well said gassed,i did a quick calc. not to accurate but:ADE 20%...

well said gassed,
i did a quick calc. not to accurate but:

ADE 20% of ATP855
10% of PEL218
Oil assets

ICN has:
40% of ATP855
33%(?) of upper PEL218 (sounds prospective for CSG etc)
other CSG permits
Vict assets (which beach/somerton bid for0
Stanwell GSA
Chinese GSA

SO ADE offered $92m for 10%
so as Pinto pointed out, 20% worth $184m?

whilst thats pretty rough calc, it is a pointer.

ADE 's 10% of PEL218 got to be worth more than ICN 33% of upper layers of PEL218.

but if we use $184m divided by 469m ICN shares equals 39c per share !

have i missed something?

lookin much better than current 16c.

cheers