china gsa extension correspondence, page-9

This time comprehenisible


Still think Icon has some reasonable value on a stand alone basis, and this whole MOU saga has been a big distraction, both to management and to the market (i.e. by creating huge expectations followed by disappointment and downward momentum). People are now seeing what the real nature of this agreement is. It time to sell for Icon to sell the domestic story and get drilling again using the now very CASH reserves, with attention given to the shale reserves. RJ has always been a better deal maker than a doer though.