this what we have been waiting for., page-6

thanks Fatz,

if the quotes from RJ are accurate, that to me is confirming that they propose to use the resources from shale gas as the resource to underwrite the GSA.

given that, after the farmin by Beach, ICN will only have 40%, it seems to me that ICN will get no-where in utilising the gas in ATP855 as the basis for the GSA, without the support of Beach.

I am betting on the following:
1. the GSA will be signed, but with conditions- that supply will be conditional upon proving-up gas in ATP855.

2. Beach will operator of ATP855

3. Beach will J/V in the GSA. Beach have already indicated that they will utilise the shale gas/csg from Napp Trough to supply LNG plants

4. once Beach gets involved in the GSA, just watch the ICN sp move.

But I repeat, that the GSA will HAVE to be conditional upon the proving-up of gas (because they still don't have any reserves yet).
But I guess if Beach farms in to the GSA, then Beach does have plenty of gas to u/write the GSA.

cheers