re: mou with china sino gas, page-5

re: mou with china sino gas Gassed, Thank you... You reworded my interpretation perfectly!

I would also like to make a correction to my previous postwhen I said ICN has till 2014 to source the gas that is 2014 to source the first years gas and 2034 for the whole lot.

Under the contract, ICN could source the gas elsewhere to supply to Sino. Obviously this will cost them a bit more and the best way is to source it from their own tenements, but it may mean strategic alliance with other big players like origin or Santos who had a stake in ICN not long ago...

From my reading, the MOU is a legal contract it will become a GSA when all terms are agreed upon. With the essential terms already agreed upon (i.e. duration, price) I dont see why either party will refute the agreement

ICN would have a buyer for the next 20 years and SINO would have gas to supply to the huge 100M population of the Guangdong province for the next 20 years. The money will come from the Guangdong residents! Doesnt take a genius to figure that out?

I have been to Guangzhou (major City in Guangdong) recently and the local government are on a spending spree upgrading infrastructure all over the place... I have been to Guangzhou about six times in the past 7 years and believe me the province is rapidly evolving..

It's making much more sense to me, now that I spent the last 15hrs of my weekend researching and thinking this through. Gassed, I will continue to invest more into ICN, as this is starting to make a lot of sense to me..

We are witnessing two companies coming together to do it big... not only will ICN become a billion dollar company, Sino will be too... they both have the right ingredients to achieve this!

Quoting directly from Bloomberg:
This seems to be a win-win situation for Icon and the Chinese company, said Nick Wirubov, an analyst at Intersuisse Ltd. in Melbourne.