stanwell, page-12

You're right spiro, for occam to imply that the Qld taxpayer is going to be ripped off to the tune of $30mil because the public servants at Stanwell don't have the balls to walk away after being duped some way by RJ is an incredible comment. Surely you are joking occam.
You also use a quote from the Baldwins that "Stanwell got the best part of APT626 from Icon for a pittance."
Which comment is right occam? Has the Qld taxpayer been ripped off by their weak public servants at Stanwell, or, have their public servants given them a huge bargain? You can't have it both ways.

And occam, have you tried to do a risk and reward analysis on APT relating to Stanwell's commitment. For ONLY and I stress ONLY, $36 million, they have every likelihood of access to a 15 year supply of 225P of gas worth over $2billion. They will have a 50% share in all other gas found in APT626 over 225P. Icon and Stanwell are working on the September 2009 upgrade of Gas Initially in Place in APT626P of 6115PJs with the Lydia Block alone estimated at 775PJ's (3C) by Netherland Sewell & Assoc.
The $30million drilling programme will now focus exclusively in proving up those "CERTIFIED RESOURCES" up to proven reserves using the Terrex seismic results of October 2009 which located the "sweet spots" which the next drilling programme will focus on. RJ has not pursued those targets as he didn't want to spend Icon's money when Stanwell would do it for us if they agreed to go ahead, which they have done today.
Obviously, not all holes would have been successful with the "wildcat" nature of the previous drilling, but the Terrex seismics will provide far better and accurate targets and improve the success rate considerably. Icon does not have to spend any of that $30million, but, will get the rewards. So, as I see it, both Stanwell and the Qld taxpayer and Icon and its shareholders are huge winners from today's announcement.