Ann: Drilling Update ATP626P , page-31

Hi Tymmsy69,
gassed is right. There are many opinions on this site,....mostly his.
In the meantime here are a few facts.

ICN has a dismal record over many years.Very poor drilling results with not one success.
Many deals announced but none ever get over the line.
( USA deal, Indonesia deal, Bio algae project, drilling rig construction deal,Santos farmout deal, etc)
Now investors are rightfully wondering if the Stanwell deal will ever prove up the required reserves and convert to a GSA.

Now we have the Chinese deal.In fact it is worth exactly what the market values it at,....zero. It could be worth a lot IF ICN can find or acquire commercial gas reserves(at the right price) before the deadline expires. Based on past performance , the market doesnt think so.
It is great to be like Don Quixote and be tilting at windmills, but eventually you have to get off your horse and create some value.
On the positive side, the GSA with the Chinese was a real accomplishment, as was the Stanwell deal, but proof lies in the pudding as they say.ICN needs gas badly but as yet they just arent getting after it.
Occam