thoughts re mou, page-22

The posts today would be the highest value posts for a considerable time. Congratulations to all.

The outcome may not be as we think or as we think we know or dream, so I would urge all to consider all possibilities and all opportunities for ICN to convert the MOU to a GSA and actually supply LNG by approx 2014.

Who would have thought some 5 years ago that QGC would have found all the gas they found and sell the business to BG, for $5.75 (from memory) a share was it not!

There is still not one CSG/LNG plant that has all the environmental approvals nor one project that has received the approval for funding so the CSG to LNG story has some distance to travel for both big and small players. As they say watch this space!

The demand for LNG in ASIA is huge and there is certainly enough gas in Australia to supply the demand many times over, its just who has it and where is it and how long will it take to get to production and at what cost. ICN have excellent new staff on board and seem to have reinvented themselves under RJ and the Board. Too early to break out the bubbles, however I have a dozen Moet in the downstairs bar fridge chilling to perfection and I'm getting thirsty!!