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They have signed a MOU to sell gas without any reserves.(3P...

  1. 961 Posts.
    They have signed a MOU to sell gas without any reserves.
    (3P reserves by themselves don't count for anything)

    Forget not knowing all the particularlars of the deal - ICN found a way to headline the most un-substantiated $32billion headline in history.

    Summary
    They have agreed to sell gas they don't have - over a 20 year period for well below market rates.(Do the sums)
    So - if they do manage to get some out - you now know they won't get a good price for it.
    All for one P&D headline!!!!
 
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