fyi article, page-2

Thanks Jake. Very good wrap. Like the last sentence, BPT, instead of injecting funds into ADE to enable it to meet its funding requirements, it makes more sense to acquire the company.
That's what the Directors of ADE hate, as the more money that BPT pumped into ADE the more "valuable" ADE's assets became and obviously, the more value in the Director's 20odd% ownership of the company.
In the August Shale gas presentation by ADE, the Directors showed their hand by concluding on three occasions that their main aim in running ADE was not to explore and develop their leases, but to "maximize their exit plans" i.e. to increase the value of the company and then walking with a massive profit.
BPT said, bugger that, you are using our money to increase the value in your company so that YOU can walk and make a big quid, sorry fellas, no more dough from us, we're taking the lot of you at your issue price, what you Directors paid in the first place.
No wonder those Directors are telling everyone to hold on to see if they can get a better deal. What better deal?
Lesson for ICN is NOT to piss BPT off, or else.