Ann: Quarterly Activities Report , page-21

I really like the thought of transferring stanwell's 30 mill into 855, however it leaves a couple questions: How do you sell it to them? and more importantly how much %?

here they are with potentially 30 million commited to exploring a tiny piece of 626 and earning a low percentage. Fine, Stanwell have done a bad deal and they know it, thats why they didn't even participate in the csg portion of the Maroon well.

Now, people are suggesting, "no worries, just roll that over into 855, win win".

here's the rub. what percentage is Icon give stanwell for that say 30 million.

Frankly, they just sold 40% to beach for 16 mill in drilling costs. How in the heck can stanwell justify paying twice that for obviously less %. I know they are a government company, but it kind of puts them in an awkward position. yes, i realize the potential of 855 is huge, but really, Icon would have to probably give up a significant portion of their 40% for that money, and for stanwell to not look silly (at least 10-15% imo)