this what we have been waiting for., page-7

G'day Jake. Can't see SinoGas signing a $40BILLION 20 year PSA on condition that ICN has to prove up the supply.
No company would survive doing that? It will take nearly 2-3 years to "prove up" $40 billion worth of CSG, what happens if the don't, SinoGas has to start negotiating all over again???? Unconditional, or nothing!!!
I believe that approval for the 855 permit will remove any doubt from the minds of SinoGas and there is now no reason why ICN can't sign with absolute confidence. However, I have NO idea how long the "approval" process takes in China, that is my ONLY concern.
And, as we have already outlined several times, ICN doesn't have to have one ounce of its own gas to sign the PSA, they only have to provide the "S" part of the PSA, SUPPLY.

No doubt RJ will want to supply the gas from ICN's permits, but, that won't stop him from signing the PSA as he knows that he can get CSG from anyone and anywhere, probably at a huge discount as the big boys have all the gas that is needed but can't sell it. RJ only has to go along to ANY of the big boys with his signed PSA and he will be on shouted meals and drink for the rest of his life.