the new board?, page-9

Thorynut, you have come out of the closet completely now it seems.

The key question I want answered is whether that $30million is a cash payment for exploration (meaning Icon are free carried for a little while longer) or whether Icon are going to have to stump up a 50% share after that $6million is spare? I keep reading the original announcement and it really isn't clear. If its $30 million spend by Stanwell, that would push back the capital raising by 6-12 months. I think that point is critical.

Thanks in advance.

Occam, was re-reading Baldwin's critique of the Stanwell deal. At the end of it he says the preferable options was to issue $6million worth of shares to prove up reserves and retain 100% of ATP625...hard to disagree with that...seems like what a few of us have been suggesting for a long time. Could raise that amount easily through a SPP...but can't wind back the clock. I will look at the Pethergill statement. However, I am pretty confident Baldwin knows the gas business.