re: Ann: Icon Energy Spuds North Maroon DW1 O...
My thoughts on this is down this track....
RJ seemed pretty happy with the well being 100% ICN; he said in the meeting 626 in Stanwell's eyes was CSG and the fault structure they were/are drilling on looks pretty 'sweet' and I really think it is a punt on getting some runs on the board and getting some capital coming in for other projects.
The structure sounds okay to me they are drilling on yet it is all a punt in this game. Have not seen the mapping on it but from what RJ explained to me in detail, seemed to have the goods and the boxes ticked for a punt. A lot of work was done on the placement it sounds and for RJ to be spending money out of shareholders pockets in the climate of world problems, takes more then stainless steel you know whats.... (don't want to be modded any more for things...lol)...
If we have a find, well, it will be runs on the board leading up to a big event next year.... also it is ICN saying we are drilling, we are earning our keep...
Myself, ... picking another pot-hole with our current luck in 626 but still, the Moonie Structure in the past long ago proved gas/oil is in them there hills....
I never expect a home run gassed... when one does comes, well, I tend to make enough to live on....
I head back next week to Singapore for a week and then off home to the North in Thailand. Things Asia wise gassed are still okay but the floods in Bangkok are killing it. Met one guy that shipped out a ton of hard drives back to Australia in fact before the floods hit for super cheap prices and made a killing on the fact he had stack in stock at a super cheap price but sold them all off at 3 times they were worth... then we still have a gorilla in the closet with the PIIGS... 200 Trillion Dollars on the books total now in world debit with around 300 billion alone with the PIIGS.... well, fat lady is still on the books unless Germany brings in the printing press and for a host of other things to GO right for them all... traders market, that what this is... looks like time for another war or something to come along...
Gas, gas trucks and gases in general are needed in huge, in fact SUPER huge amounts and that is why I think China will keep extending the ICN contract till 2050 if needed if it looks like they can come up with the goods... a contract extended is not hard to do. Add mainly to the fact if the benefit is in the Chinese interest and to have a few junket trips to the land of OZ for a few drinks with the boys, well, enough said.....
Again just my thoughts.... nothing set in concrete okay...
ICN Price at posting:
17.5¢ Sentiment: Hold Disclosure: Held
(20min delay)