rj stays., page-9

Gassed,
can you please explain how RJ can avoid drilling until he has a gas contract?
The fact is that ICN cannot have an enforceable GSA until they have certified reserves.After he returned from one of his China trips he stated that everything now depended on proving up reserves.
Yes, I know that in theory they can avoid drilling and do a deal with another party to get reserves, but it seems like nobody wants to do a deal.Not surprising really because ICN would want cheap reserves to make it all work, but potential sellers want market price, and nobody wants RJ/ICN sitting in the middle taking a big cut.
Then there is the Stanwell agreement.They have not been able to prove up any reserves yet and arent even close.
ICN can talk the talk as they have for years but fairly soon they will have to walk the walk.