it started!, page-47

hey Speculator,

keep posting, definately nice to read some other views.

in regards to your questions posed the other day regarding 855 pro's and cons

I agree with the pro's and that non-op and 40% isn't as attractive to a major, but remember, statoil farmin to petro is a non-op farmin. I also don't think any major will get operator with a farmin to bpt. So if it's a major getting involved with bpt, I expect them to take over icn purely for the additional interest, as well as keeping it clean.

I also think you'll find that if the frac is successful that they will likely tie in Halifax, as the pipeline appears to be quite close based on the map in the recent preso. so i think 3 years is unrealistic. of course that is dependant on a successful frac and reasonable flow rates to justify the tie in.

The Icn GSA is also quite loose, so I won't be surprised if it gets extended or fulfilled on icn's part, even if reserves are not met by 2013. remember, the buyers also have conditions to be met and I haven't heard any updates that they are ready and waiting.

The one thing that is for sure is a large section of gas charged rock in Halifax 1. Next step is proving it will produce at economic rates. The one (and only) reason I don't mind about being pushed back for the frac is that BPT gets a couple more wells to refine their frac technique and zone targets.