positive signs, page-28

Yes Invertedva the price that BPT is to pay for those $3.5 million of ICN shares, IMO, has been the sticking point for months. RJ has had very high hopes for 218 and 855 for many years and probably "gave" BPT a VERY good deal on 855 to have them on side and a partner and $8.5 million of drilling. No erosion of capital, no cost to ICN and SH, biggish "friend." Good move.
But, I think that he is playing very hard ball with the price that BPT will have to pay for our shares. To state the obvious, the lower the price the greater percentage of ICN that BPT gets. IMO, RJ will be jealously protecting ICN's SP and equity and as he was very confident with 218 and 855, was in no hurry to finalize the deal with BPT. It was a "punt" but a calculated one and now he holds the whip handle in the negotiations.
In fact, with what we heard with EXE on Thursday and BPT's ann re significant increase in shale in 218, 855 is even more valuable and RJ could (I don't think that he will) play very hard ball with BPT even to the extent of withdrawing from that proposed j/v as there will be no shortage of takers from other parties. BPT knows that!!!
I am sure that we will find out when RJ is good and ready to sign the best deal for ICN, more like .30 than .20. Again, IMO. Very much looking forward to next 10 days. BPT was just the cake, now for the icing. Wish you all well.