fin review page 20, page-5

goodaye,
whilst that Top20 shows a big chunk of shares held by RJ and Chinese, I would suggest that the ANZ holding in name of (was it Merril Lynch?) would be available quickly at the right price.
I also guess that the Baldwin holding would be for sale also.
A Top20 holding of 28.39% is small by comparison with other coys imho.

so i think if a predator were to do a deal with those two s/h, then they would be well on their way.

it would be a good time to strike imho, because every s/h would now be very nervous of the future for ICN given the dramatic drop in SP.

If those Chinese s/h felt they could get that GSA up and running with a new mgt/board and proven operator running ICN, i reckon they would jump ship also.

I do think Beach would not do anything until ATP855 situation is fully resolved, and if they get their 40% and Operatorship, then they would probably sit back and wait for drill results from ATP855.

One thing I just thought of, was what happens if the COurt rules that each agreement (ie farmin, operatorship, and share subscription agreements) were separate agreements, and ruled in favour of say one agreement, and against in others?
eg, say for example, thatBeach had a valid Farmin agreement, but had not a valid claim for Operatorship?
I suspect beach would not want its 40% unless Beach was Operator!

just a thought!

now that would be a mess!