from drwyas the other day;
* ICN does not seem content resting on their laurels from the Stanwell agreement and RJ repeatedly acknowledged that the true value in ICN was in developing ATP626 reserves 100% owned by ICN, outside of the Stanwell blocks. When asked about moving ahead on this re: finance options and if this would commence possibly before or parallel to the work as part of the Stanwell agreement, RJ just smiled and said "read Monday's announcement". It seems they are very keen to get another pilot program going asap in ATP626, hence the finance raising, although I got the impression this was to woo another JV partner. I could be wrong though."
Is this big dilution something to smile about Ray James - doesnt your holding get sliced big time since you can only $15K worth yourself ?
Maybe I'm missing something - anyone please ?
agm, page-13
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