stanwell

Today's Stanwell deal moves Icon closer to being a really big force in the CSG industry. The Queensland Government were not about to give $30 million to some white shoe brigade from the GC with flash offices with water views. They have invested in the real deal with RJ and company. This and the MOU will have brokers and institutions falling over themselves for a slice of the action. In terms of future SP, this depends on gas and availability and ICN have only just started. If Ray can convert the MOU to a GSA and remember time is on our side then the future SP could be as high as $4 to $5 dollars considering the relatively small number of shares on issue. $32 billion of GSA works out to be a nice little earner per share on top on the 15 year deal with Stanwell. Go well Ray and co and time for a well deserved pat on the back.