i can't understand market reaction., page-14

so what did the market not like about the GSA?

i think it is credibilty issues again.

that is driven by the fact that ICN does not yet have the gas, or the LNG project, to fulfill the GSA.

against that, RJ has said all along, to anyone who would listen, that the GSA would be conditional upon ICN certifying reserves. So that should not have been a big surprise.

whilst the Chinese J/V partner is not well known, it is still a huge enterprise, it is wholly owned by Chinese Govt, and it is specifically a gas operation. So it is a logical player.

so what was the market expecting?
I can only think that the market was expecting, or hoping for, some resolution of the gas supply issue.

But RJ always said that the GSA comes first and the supply will follow!

Also, I agree with someone above, that the trades in ICN shares just before ASX releases MUST be investigated !!

How obvious does the trades need to be????

ICN need to be on the ball better - and request a T/H before these crooks get a chance to deal in the shares!

Also, no one has mentioned that "..A Chinese delegation consisting of Shantou SinoEnergy and China Guodian Corporation staff and relevant Chinese government officers...." planned to come out to Aust in May (?)
what for?
there's nothing to see (at Icon).
I am of the view that this visit is part of a bigger plan - ie perhaps as part of their consideration of investing in the upstream activities of Icon? because thats where we will get the funding from - just like many of the other CSG coys.

Also we need to consider that, now that we have not only a Chinese coy as the buyer, but a Chinese Govt entity as the other J/V partner - that it would be a logical extension that a very experienced big Chinese O&G coy such as Sinopec, might come in the bankroll the deal.