re: Ann: Halifax-1 Update & Extension of Shan... That really is...

re: Ann: Halifax-1 Update & Extension of Shan... That really is great news. The market and many sceptics, even in this forum, have written off the value of the GSA as it was considered completely impossible to satisfy the conditions precedent, especially proving having 2.2TCF of 2P by March 2013.
With Halifax-1 data and the extension to 30 June 2014, that should satisfy even the most sceptical.
Also the news regarding the commencement of work on Halifax-1 and all of that VERY positive stuff that is in that ann, is certainly reassuring. Now all the market wants to see are the results.

There is also a story on the ICN web site that Directors took up $60,000 of shares in the SPP.

Let's get all of those STs from the Placement and the SPP out of the way with their little profits while we frack Halifax-1, when the fun will really start.

P.S. That doesn't mean that ICN can't sell gas before June 2014 IF they find commercial rates in Halifax-1. That could start within 9 months. The market might mis-understand that and think that the ann is not as good news as we know it is and the SP might react accordingly. Could make "nervous" buyers into the PlACEMENT and SPP sell earlier. Good.