stanwell announcement, page-9

dont know enough about these matters to be able to judge propely, BUT if the $30 million allow ICN to confirm commerciality of gas field, and a subsequent SP appreciation to > $1.00, does that make it worth it ?.... not a good time to be raising funds, so have to be prepared I suppose to give away more than we might have had to 6 months ago say...

The deal is 18.5% of the total 5400 PJ estimated (and only 4 blocks of the total 30)reserve.... that's 340 PJ / 5400 = 6% we give away for the $6m + $ 30M that leads to SP >$1.00 ..... sounds good to me, but the real test for ICN board now is to meet timelines with announced milestones.... thats all that matters for now..... show they can actually do what they say they will for a change.

On the egm front, i still lean toward supporting such a move, despite the good points Occam makes, only because we have had years of Ray James faffing around to our detriment... I reached my limit with this guy months ago, and cant see why now will be any different under his management..... lets see what the egm is all about first I suppose..