thoughts re mou, page-21

Jake old son,
your quotes are all old and are really meaningless.

Firstly, Stanwell. ICN has no reserves and all that has happened is that Stanwell has agreed to keep looking for producible gas.The market has correctly valued this by adding 1 cent to the shareprice.Wow!I was a big believer in the Stanwell deal until I saw the well testing results.
Next thing is the suggestion by ICN that they will deliver LNG by 2014.Considering that they have to find the gas , have certified reserves, develop the infrastructure, access or build an LNG plant,.......I dont think so!!
Shenzen can access LNG from the Middle East, Indonesia, Malaysia, and the big undeveloped reserves in East Timor(ZOCA), (Sunrise etc). So as far as ICN has an "agreement to be the supplier from Australia , that means didly squat.
I need to see some real progress before I am convinced.
Occam