Sure, etherex, that is the number one condition precedent that...

Sure, etherex, that is the number one condition precedent that will be in the PSA (GSA) that ICN will have to satisfy. But, IMO, that does not stop ICN signing the PSA and THAT is the next issue that the market will have to assess when the decision is made, either way. I just think that the market has given NO value to the MOU, so, if they don't sign the PSA, why should the SP drop too far? But, if they do sign, despite the conditions, the market must re rate ICN when we see them with the Stanwell j/v and GSA and then the (conditional) PSA with SinoGas and the j/v with Beach.
A market cap of less than $80 million, when compared with its "peers" is illogical based on "fundamentals." But, ICN's "image" has been badly tarnished due to the April media on the MOU and that makes it impossible to guess how the market will react to a PSA ann. Will that remove the cynicism that has caused our SP to be so harshly treated?

It is a toss of a coin, but I consider that ICN has absolutely nothing to lose to sign the PSA, but, has no control over the Chinese Authorities re SinoGas's import licence. That's why it is really impossible for anyone, other than someone on the inside, to "predict" anything. Until the decision is made it is a "punt.' I just think that ICN has wanted to sign the GSA since August and that was confirmed when they got the approval re 855, which they are confident will satisfy their condition precedent. All I can think is that China is still very anxious to sign up supplies and EXE's ann this morning confirms that.
Will not "guess" the price if either decision is made, but, can only hope that too much damage has not been done by the April media and that fair minded investors will assess ICN the same way that it "values" all the other companies in our field. My personal view is that our market cap is grossly discounted by as much as 75% based on fundamentals if the PSA is signed. Just my view.