goodaye Gassed and Buddy,Sure is starting to look...

goodaye Gassed and Buddy,
Sure is starting to look interesting.

"Am sure that ICN would love to see a 4 in front of the SP as quickly as possible. Is the current big buyer a "friend"?? Enjoy"

well that would make it $4.30 - and we would all be pretty chuffed to see that (but i suspect thats not what you meant?).
we are going to have to agree to disagree, and time will tell what the accurate course is, so yes all we can do is speculate.

But I am sure from experience of Beach (of which I am a l/t s/h, and whose mgt I think is very clever) that they simply take no prisoners, and act like a wolf in a flock of sheep. poor analogy - sorry.
To say ADE had a "traitor" in its midst is a bit melodramatic, but BPT was only doing what it does all the time, and that big s/h (Walker from memory) was simply grabbing a profit.
The "crime" was that ADE believed that it was on the same side of the fence as BPT - big mistake.

There is no doubt in my mind that BPT wants ICN's holdings in 855 and 218. The only issue is when and how. It will be by an increase at asset level, or a t/o. I am sure it would prefer just getting hold of the Nappa holdings than have to purchase all the other stuff.

Example, why couldn't BPT buy the NAppa holdings from ICN, by purchasing them via BPT scrip? That scrip could be then passed thru to ICN s/h. Its been done before.
Everyone benefits.
RJ keeps his comofrt level at ICN, salary, office, control etc.
ICN s/h (of whom RJ would be the biggest beneficiary) get shares in a much bigger entity, ICN does not need to look for capital and its resultant dilution, BPT might get/want the GSA but ICN could even let it lapse if need be, ALL CIN s/h still retain an interest in the asset by way of BPT scrip, makes it much easier to attract a big player, ICN could then concentrate on its other assets ie 626 and Vict.
Anyway, in order for ICN to move forward in Nappa Trough, it is going to have to either do a big CR or farm-out some of its interest. And that will be more difficult because of ICN cannot offer Operatorship of the shale prospect.
Thats just offered as a possibility.

The more likely scenario as I see it, is BPT introduces a big player by farming out say 40%-60% of 218 and 855. BPT could still be Operator. A scenario similar to DLS and BG.
In 855 both ICN and BPT would sell 50% of their interest.
Anyway, just speculation.

The biggest issue imo is when something will occur.

All I keep hearing from the O&G players in general, is that the way to get best value, and get anyone interested, is to DE-RISK the asset.
I guess BPT is working to achieve that right now.
So to get the best price for 855 interest, at least the first well needs to be drilled and fracced.

But as you say, then the price of ICN goes up!

But a consolidation of the interests in 218 and 855 will occur - and in that way allow a big player to be introduced.

cheers