icn about to break out on open, page-90

G'day sicemrex. The rig was supposed to arrive "in April". Will try to get some info and will post if I do.
The date for drilling has to be flexible and both sides accept that contingencies might arise to make setting a fixed date impossible. But, the wording of the j/v agreement is that BPT MUST use the rig on 855 as its first job and must commence at the earliest opportunity "as a top priority".
That's what ICN will be watching like a hawk AND what BPT will be complying with to the letter!!

As you say, there "could" be more dilution (IF there are more CRs) to be able to guess a SP for any move to takeover ICN. I am puting a total value guess, but, still reckon that ANY guessing will be hypothetical, as, IMO, it will not happen unless something "very big" comes from left field, then all bets are off.

Talk of TO at this time is pure speculation, but, until "some" news comes out to justify the SP increase and the buying that has caused it, we will just have to continue puting up with that speculation.

I reckon that a lot will agree with you and take some off the table @.60, even less. but, that will not achieve any objective of taking control. So, that's why I simply cannot see it happening. Can't you imagine the statement that ICN will come out with with 9 zero valuations to try to get you not to sell??


Mav. What I find "difficult" with the "sentiment" in your posts,"ST Sell", seems to be completely opposite to what you and most are speculating, a takeover by BPT.

Most posters are agreeing that if BPT was to make a move on ICN, it would have to be very soon, before the SP keeps balooning upwards. Wouldn't you deduce from that that it would be more a ST BUY than a ST SELL?? You'd feel bloody sick if you have held this long and sold BEFORE a TO pops up from somewhere, as you would guess that it would be AT LEAST at a premium of 30% to 50%??(Would ANYBODY sell for those numbers???) Would BPT offer 100% premium?? Not their "form". Draw your own conclusion, seems obvious to me.