Ann: Beach Secures $150 Million Financing Facilit, page-26

re: Ann: Beach Secures $150 Million Financing... I would have to think that the financing could be simply for exploration and proving up the shale. a horizontal well with multi stage fracs in australia will most likely tickle the 10 mill/well mark, if not more. so that turns your 150 mill into about 15 wells or less, for proving up the resource or at least continuing to prove it up?

otherwise, i would think depending on the outcome of the court case with icon, you might see one of two things:

If bpt wins the 40%, likely they would need only to take out ade to have over 50% of the permit. conversely, icn share price may drop further making the permit worth the takeover (price dependant).

If bpt loses, you can expect a huge spike in icn share price, simply cause thats what that stock does, and then they would either need to re-negotiate or take icon out to get any, but i doubt that 150 mill would cover the bill.,

so i think if they lose, neither ade or icn will be on the to agenda, near term.