unloved and unwanted - or so it seems., page-54

On another note: why have BPT given Icon a free kick?

I was working under the assumption that Beach would delay drilling in ATP855 to keep drilling information about shale in their hands only, and to keep Icon cheap for a potential takeover.

However, this has taken the foot off the throat of Icon. The question is why?

Simply because drilling 855 allows them to extrapolate their own resource at least coast?

Do they want to prevent another player from taking over Icon, even if they have no interest themselves?

Do they want to engage Icon's GSA for their own strategic purposes? i.e. to say to an international player who may be playing hardball "we don't need you to sell our gas".

Maybe they have negotiated a friendly merger pending good results in 855?

Really is an interesting strategic decision by BPT given 'going slow' in 855 seemed an attractive option.