the australian article, page-3

Hi Jane, my feeling is that if ICN has the SPP to shareholders, it will be fairly well supported ,IF, the price is attractive. An attractive price in my opinion has now come down to 20-22 cents. At 20 cents I think it would be very well supported.
Fundamentally all is looking good. Lydia should flow nicely and Stanwell will continue to fund ongoing reserve appraisal wells in the four blocks, leading to the gas sales contract becoming unconditional.
ICN will then start to drill and test CBM wells in its 100% blocks in the permit, and also other oil/gas permits it has.
Dont forget that the sp ran up to approx 38 cents and things are somewhat better now, so we should see a sp over 50 cents sometime this year.The other positive thing is that there wont be all the sophisticated investors to dump their shares as soon as they show a 20% profit.In fact there are not a lot of sellers around and most ICN investors seem to want to hold until bigger things happen,....ie LNG contract or takeover.
Happy Easter.