statoil takeover - early next year?, page-13

Muzz. Check out how much money BHP lost "punting" on the "next best thing" in Texas. Don't think any of the big boys are taking unnecessary risks and are more than happy to pay an extra few hundred million on a "surer" thing especially if they are looking at an estimated 100TCF of recoverable gas.
They have already taken "strategic" positions (on BPT's register)and are now waiting to see what comes out of Halifax-1. A "conservative" de-risked 100TCF of recoverable gas in Australia, in the C.B., is surely having most majors glued to their radars.

Auto. The ONLY "link" that BPT has to that 2.2TCF GSA with Shantou is their J/V with ICN in 218 for the Post Permian Section and "potentially", if they satisfy their requirements with Halifax-1 to earn their extra 40% j/v in 855.
The GSA is between ICN and Shantou, no mention of BPT. If 855 is confirmed, based upon the "conservative" estimates, ICN will OWN OUTRIGHT 40% of 20TCF of recoverable gas, 8TCF, easily satisfying the 2.2TCF of the GSA in its own right.
If, as some people consider (erroneously IMO)that BPT will take over ICN cheaply, there is NO guarantee that the GSA is transferable, so, I wouldn't be counting on that being a "nice bonus".
IMO, where the GSA will be MOST helpful to BPT is in conjunction with they, hopefully, proving up a potential 100TCF of recoverable gas, they also have a j/v partner who has already sold at least 2.2TCF. That's the ONLY benefit that ICN's GSA has for BPT.
Now, IF the GSA is transferable, don't you think that by Halifax-1 replicating what Encounter and Holdfast found in 218 (and don't forget that this core sample from Halifax-1 was taken from the same Epsilon Section in 218) that ICN will also be a very lucrative target for those that are MUCH bigger than BPT?
Keep in mind that Shantou have a j/v with Guodian Corporation in their LNG receiving project and Guodian is a $90 Billion company, so, could be a source of financial support for ICN's share of the development costs of 855.
The GSA also gives ICN much leverage to negotiate a share of part of their 40% of 855 and 33.33% of the Post Permian section of 218, which also appears to have commercial productive potential when we saw that "bonus' gas show in the upper section of Halifax-1. ICN is a real "FRIEND" for BPT.
VERY interesting times ahead and you can bet your proverbials that the story has probably not even started. Let's be grateful that we, BPT and ICN shareholders, are to be major players in this exciting historic event.