do they really have a chance, page-2

Speccy,

i don't think anyone here has speculated that ICN could go it alone - it has no money, no credibility, no reserves, and poor mgt.

But what it DOES have is an ever-increasingly valuable asset in 40% of ATP855, plus 33% of top of PEL218.

that asset is right in the guts of the "hot" shale belt of C/B.

this is part of what Total reportedly said:

"..Guillermou said acquisitions could involve individual assets in gas, including shale gas, or takeovers, with the company expecting to spend up to $14 billion in Australia over the next five years..." Reuters

and this is exactly what we have been speculating around - that ICN will farm-down (or even sell) an interest in ATP855.

ICN will never get the funds to participate in a 40% stake in the exploration (let alone the development) of 40% of the shale dirt in ATP855.
But it could well sell part of the asset to a Total, such proceeds would help fund a smaller share of expl and dev't.

cheers
.