G'day xmencer. Everything except the price that BPT have to pay...

G'day xmencer. Everything except the price that BPT have to pay for the ICN shares have been resolved. Clearly, the lower the price that BPT will pay, the bigger equity that they will have in ICN, but, RJ is holding out for best deal and probably waiting for results of 218 to determine the nominal "value" of 218 and consequently, the "value" of 855.
Sure he would prefer .30 than the current SP, and that is the only stickler. The better the results from 218, naturally, the price of ICN shares will increase accordingly. But, am sure that BPT, ADE and ICN must become close friends as they appear to have too much in common to go their separate ways.
Don't agree with invertedva's comment that RJ is not a finisher. He has a GSA with Stanwell that is worth $500 million over 15 years and they pay for a $30 million drilling program. Not many of its "peers" have any "deals" on the table like that and their market cap is MUCH higher than ICN.
IF and I say that with a HUGE IF, RJ can finalize THAT SPA with SinoGas, which is close to finality as I write this, the SP of ICN must be dramatically re-rated, making it more difficult for BPT to make a play for it. Very happy to share the next few months with you BPT holders.