bpt vs icn, page-7

Occam. Fully agree re your "history" quote, but, ICN now actually have two GSA's (not MOU's). We must look to the present and the future. Surely they are not sitting on their hands as "history" proved? They now have THAT opportunity to finally deliver. No more WORDS.

Don't you think that in view of the BPT "hiccup" re 855, that they would have to be doing a stack of talking to either get support for their GSA's from outside suppliers, or, if they still think that they can "deliver" from their own resources, they must also be talking to MUCH bigger players for their "most aggressive drilling programme?"

They simply do not have anywhere near enough money to do the drilling in 855 nor do they have any experience with shale. So, "logic" suggests that if BPT are out of the picture, on a "friendly" basis, then who are they relying upon to get them to satisfy the GSA to China?

That is what should be occupying our minds, not past "failures." But, I agree their "form" does not enthuse confidence, but, they now have extremely lucrative incentives, once in a lifetime opprtunities, so, one would hope that that will bring out their best. As I have always said, time will tell and that until then ICN is a LT punt.

The only way that I can now see BPT being a "partner" in 855 is to do a hostile takeover of ICN and that is certainly not off the cards, especially if the tests of Holdfast and Encounter prove up what we are all expecting. Both sides will be playing very hard ball to retain (or obtain) maximium interests in 855, but, it will come at a much higher price to BPT than that $8.5 million that was initially proposed, more like 60 cents per share than 30 cents.