20 cents, page-7

Hi Casmack, I have thought long and hard recently and I am now thinking of selling up and moving on.My reasons are these.
1 The progress over the last 6 months has been disappointing, with poor results, (slow) dewatering and management none too keen to say much.Dewatering at the original Lydia wells is taking way too long and could indicate potentially low productivity,....which would mean the need to drill more development wells, which could mean poor economics.They seem to be a long way off proving up the required reserves for the Stanwell deal and may have to expand the original area.

2 The regional LNG scene seems to be much more competitive now with big offshore reserves competing amongst themselves and very effectively with CBM , and CBM competing fiercely amongst themselves.I have been advised by pros that the pace of LNG contracts will depend on Chinas growth rate.If there is a big LNG contract let to one of the big CBM players then this could help boost the sector but I feel the going could be tough.
3 the ICN stock owes me nothing and I have done well over the past year or so, although I will have to take a loss on my most recent purchases.
4 I am now having to put emotion and disappointment behind me as I can see good opportunities elsewhere.There are stocks that will move sooner and higher than ICN will .
So ,.....my head says get out, get over it and move on.
Good luck to all, and I sincerely hope that ICN hits a few home runs soon.
Occam