fin review today, page-8

With fraccing of 218 soon, wouldn't it make sense to move on 855 sooner rather than later? The market is smart enough to figure out what good post-fraccing flow rates from 218 mean for 855. BPT are in a bind themselves. On one hand, keeping reservoir information close at hand gives them a strategic advantage in getting other assets, such as 855, cheaply. However, in order to get the finance to develop shale, and maintain first mover advantage, they cannot afford to sit on fraccing results (unless they are below expectation). I would expect an TO for Icon to come sooner rather than later, if it is to occur at all.

This all will happen before Icon's cash runs out (notwishstanding the ridiculous cash burn for a company essentially doing nothing).