Ann: Beach in dispute with Icon regarding ATP855P, page-41

re: Ann: BPT: Beach in dispute with Icon rega... goodaye,
the ICN advice re BPT / ATP855 was quite informative.
But it really confirmed what I was thinking in my post above.

BPT has HISTORY in their unco-operative and bully-boy tactics when they are trying to establish positions in target coys or target assets.

They did the same thing with DLS. After the t/o fell over (after Beach tried to get DLS for next to nothing), DLS mgt kept announcing that DLS was "was looking forward working co-operatively with Beach blah, blah, blah". BPT and DLS have quite a few exciting permits in C/B, and now DLS and BPT seem to be working together. But without a doubt, Beach always seem to need to become the Operator, so that it can drive the exploration and technical side.

As we all have said, it seems sensible that Beach be the Operator of ATP855 for all the obvious reasons.

With ATP855 and BPT and ICN, we have a situation where both coys have "old oilers" running the show, who both know how valuable 855 may well be, both coys now have (or may have) prospective markets for anything produced from 855.

So its pretty clear that all this claims and counter-claims is just argy-bargy (albeit with big stakes on the outcome).

It seems from RJ version, that ICN has a hell of a good case to claim that there is no J/V in place.

Beach knows that, and it trying to bully and intimidate ICN to better BPT's position.

Hopefully, RJ (who must be an old hand at this sort of stuff), will drive a hard bargain.

I think time is on the side of ICN - not BPT.

BPT is required to keep the market informed, so at some stage it must release the results of ENcounter testing.so that will boost thye value of 855. ICN on the other hand, will hopefully come up with the much-awaited GSA - and that agin will be a huge boost for ICN position. ie its a market for the gas from BOTH 218 and 855 ! that must be very attractive for BPT !

the GSA could very readily make ICN position much stronger, because that GSA will lock in a market- all that needs is the gas. So imho, that will make iot a heck of a lot easier for ICN to walk away from BPT ! ie ICN could well attract a different partner - or attract equity and development funding, and/or j/v parties. who? obviously the Chinese would be keen to get a slice of equity, to balance their take-off. But in Aust we have AWE trying to develop shale deposits in WA. Also, we have Sundance(?) who are Beach j/v partners over in USA.
Why not an U.S. coy which operates shale exploration and dev't in US? because BPT keeps pointing out how similar the US shale resource is to that in Napparri Trough?

So ICN seems to be in a good position - both legally and time-wise.

I have no doubt that this will be resolved - Beach want 855 so much - and essentially (other than the access issues) it will get down to a matter of dollars.

cheers
We also have the situat