ADE adelaide energy limited

Beautiful, they have gone to war.Absolutely no doubt in the...

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    Beautiful, they have gone to war.

    Absolutely no doubt in the value of our ground now, there is only one reason you would do this!!!!!!!

    Which I guess explains the sp strength today.

    The next couple of weeks should be very interesting. The media will be all over this shortly

    BEACH COMMENCES LEGAL PROCEEDINGS AGAINST ICON
    Beach advises it has commenced legal proceedings against Icon in relation to its dispute
    regarding Beach?s entitlement to earn up to a 40% interest in ATP 855
    Beach Energy Limited (ASX: BPT, ?Beach?) has commenced legal proceedings against Icon Energy
    Ltd (ASX: ICN, ?Icon?) to protect its position in relation to Beach's entitlement to earn up to a 40%
    interest in ATP 855.
    In October 2009, Icon accepted Beach's offer to farm-in to ATP 855. As a result of this acceptance,
    Beach asserts it has a current legal entitlement to a 25% interest in ATP 855, with the remaining 15%
    subject to the exercise of its option to earn-in by contributing to exploration costs. Icon has disputed
    Beach?s assertion as to the legal effect of their agreement.
    The proceedings have been listed before the Federal Court in Adelaide next week.
 
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