summary, page-5

LoveCCE, you are wrong on all fronts. So much for your research.
It is easy to use the throw-away line..."they have agreed to sell gas they dont have".
The MOU is not an agreement to sell gas. It is an understanding for ICN and Sinogas to move forward and sign a detailed Gas/LNG sales contract, which is obviously what they both want.The MOU spells out the major terms that will form the basis and starting point of negotiating that final Gas Sales Contract. The contract will require ICN to either prove up its current resource OR source third party gas by a certain date.Based on a technical review both parties believe there is a good chance of ICN proving up its resource.It does have gas in its permits, and is in the process of converting it to proven reserves.
Where do you get the "well below market price" idea from.
I thought the announcement said it was tied into the price of Tapis crude.Do you even know what the market price for LNG is ? It is not a number that is freely available as its a highly competitive business.
Occam