déjà vu, page-3

Hi Maverick and Vala,
I have sort of lost track with whats happening over here at ICN.I have just read their announcement and I think Vala has it nailed. Woody Allen's saying was ,...."its deja vu all over again ".
A couple of years ago I moved into BRU when they were about 20cents(now $3.00). The difference between a well managed , active company like BRU , and a snail like ICN is like chalk and cheese.
My overview is as follows.
There is no escape,.....eventually all oil/gas companies have to drill wells, lots of them. ICN has been very slow . After the LNG contract was signed they should have hit the ground running and should have drilled dozens of wells by now and been a long way down the track towards proving up reserves for their LNG project. Unfortunately, as things stand , they now have to drill many many wells, find gas, appraise and test large areas/wells.This will eventually lead to certifiable reserves,....(but there is no guarantee as ICN learned in 626.)Assuming it is economic, they need to get a development plan approved that includes pipelines and an LNG plant. This LNG plant needs to be up and running approx four years from now.
Even the majors would battle to keep such a schedule, in fact I would say that they couldnt.
It is possible that ICN could pull a rabbit out of the hat and do a deal with some company that has uncommitted reserves, but my feeling is that they would have done it by now if they could.Relying on Beach in 855, then doing some kind of deal will be time consuming and a very tough negotiation IF they find the required gas.
The world is changing, and supply/demand for LNG is changing with it.China is slowing down, both the USA and China are on the verge of exploiting massive shale oil/gas. There is a growing consensus that there will be an LNG price softening in a few years at a time when ICN is faced with a high cost development.
Given all this , and ICN's lifestyle mentality and snail pace, it will be a very tough assignment.It is clear that if they had a credible plan and a credible management, the market would assign a much higher value to their sp.
I have to hand it to you guys for the perseverence.I hope it all comes together for you, but to me it will be close to an impossible task for ICN.
Good luck
Occam