This excerpt from today's SMH would suggest that the Icon deal has many hairs on it...plus, why in blazes would SinoGas allow one of its subsidiaries to sign such a landmark deal with a minnion with no reserves or resources and with a large degreee of recoverable complexity.
Commercially is just does not stack up....why punt on a foal when you already have a promising colt with acknowledged MASSIVE potential.
No, for mine this is shaping up as a diversion for something else.
Extract from SMH
"A research note by Intersuisse published last month said Icon's ability to service the gas contract would depend on whether it could commercialise its Queensland and South Australian tenements.
Intersuisse said in the note: "Results from recent drilling activity undertaken by Icon in ATP 626P [in Queensland] indicate that the coals are much more complex than previously thought and that much more work will be required to unlock the secret to establishing sustained and economic gas flow from these wells.
"In the long run, investors should be rewarded for their patience and will be able to witness the establishment of a commercial gas field in ATP 626P."
ESG Price at posting:
96.0¢ Sentiment: Buy Disclosure: Held
