positive signs, page-29

EXE
CNOOC takes 50% for $50million for 5 leases of Galillea Basin permits that potentially hold 100TCF
100% ownership
Cash in Bank - $3.4million
Marketcap (undiluted)- $89million
Shale thickness (can't find)

ICN ATP 855P
No Farmins
Permit potentially holds 100TCF
80% ownership
Cash in Bank - $16million
Marketcap (undiluted) - $88million
Shale thickness (possibly 200m)

For get the GSA, forget the other ICN prospects, forget the other farmin agreements, forget the behind the scenes political stuff. Look at what international majors are starting to pay for shale prospects.

The registry is very loose with the top20 holding approx 27%. Most shareholders are frustrated with the sp performance.

Ripe for some corporate pickings imo.

Cheers,
The Sparkler