Ann: Quarterly Activities Report , page-23

T.P. I agree that Stanwell are not ever going to be in the 855 story. 626 really is chicken droppings in the overall context. It will bring about $500 mill to ICN over 15 years. It is just small change. VERY nice, yes, and looked great when we got it, but, it is fast disappearing into insignificance when you look at the big picture.

I'm one of that dying race that still reckon that we can deliver the Stanwell GSA from 626 eventually. The gas IS there, but, the secret that has avoided management so far is to find those elusive "sweet spots". I reckon that that will happen and while Stanwell is prepared to continue pumping in that $30 million, why not keep having a go. What has ICN got to lose, maybe except more credibility?
But, 855 and the post permian section of 218 will determine ICN's future. They are sitting on that "company maker" and not even bad management will alter its value.
The GSA is in the bank, drilling in 855 is only a matter of weeks away and the predators are sniffing from all around the world.
Be nice to see STO being mentioned around the traps and not just the o/s gorillas. STO IS the Cooper Basin and what they don't know about it doesn't matter. BPT are apprentices by comparison. They will very soon learn how to extract from shale because that is THE future energy source. Let's see how big a part ICN plays in it.