thoughts re mou, page-16

Cheers Mav.

You have been very critical of ICN in the past, yet I noted noted that you had an unusual, quiet optimism that Stanwell would commit to Stage 2 of the Lydia Pilot, despite poor results in the last quaterly report.

You were proven correct, so I take note of your optimism here too re: the MOU.

I know you don't want to make specific target SP predictions, but any thoughts on whether the SP might break previous highs should the MOU become a GSA in the coming weeks?

If the conditions of the contract are along the lines that Occam and Invertedva have suggested here, then I would think maybe not (just IMO) as there may be conditions given ICN has no certified reserves, which could dampen a similar euphoric SP spike when the MOU was first announced.

Anyway, just curious...

We're all keen to see what comes of the MOU, but it would also be nice to see ICN resume drilling in ATP626 ASAP now that the Stanwell Stage 2 funds are at their disposal.