Surprised you did not get back in Occam.Anyway, good to have you...

Surprised you did not get back in Occam.
Anyway, good to have you level headed analysis around.

As stated previously, Icon have put quite a bit on the table, as have Stanwell - $30million.

This got me thinking. Despite the failing of government directed investment in general, surely the decision makers need to justify in some way the use of $30 million of tax payers money. They only way I can envisage this happening is if some sort of 2P reserves have been estimated. Maybe its a low figure, but extrapolated to the entire ATP626, produces a figure somewhere near what is needed to cover the contract.
Taking this speculation one step further, if an updated reserves estimate exists, I would expect RJ to release it soon to keep the share price moving north. As long-termers know, RJ knows how to spruik the share price. I imagine they will want to raise some cash, also, to fast track the shale tenements. RJ has never been one to put all his eggs in one basket.

This is pure speculation, but based on past form of Icon and the fact that Stanwell would have needed something more robust that contingent reserves to commit to $30million (at least you'd hope so), we might be in for another announcement or two in the short-term. As I said, speculation.