icn & bpt settle out of court, page-7

wow,

well you can clearly see that icon really didn't have much of a position going into the court case, as 40% of this tenemant is worth a heck of a lot more than up to 16mill.

regardless, am happy that beach is the operator, but the one surprise i have is that 16 mill is the predicted amount for 40% of a horizontal well cost, pre-stimulation?

i sure hope thats a gross over estimate with plenty of excess in it, otherwise the economics on drilling these wells will be out the window.

ie, total well cost pre stimulation is >30 million, crazy.

with luck they will be drilling this next year on the back of the two horizontals in PEL 218, and with similar characteristics should get automatic reserves booked matching what will already have been booked in 218.

ok, one more year to wait...