Av, Let me assure you that you can not prove up the reserves for $6 million in shares.Firstly it would take many multiples of that. Secondly, nobody in their right mind would accept ICN shares . This is just a fantasy. It might sound good to some but just wouldnt work.
You say Baldwin understands the gas business. He might be familiar with the power station end of the business which is a bit like my wife turning on the gas stove at home.He has no understanding of gas in the ground, how to find it, how to prove it up, how to get it certified , how to develop it, and how to sell it. Frankly, I wouldnt expect him to know this because he is not a geologist or a reservoir engineer, but if he is going to run the board he really will be out of his depth.
This all points toward one thing. Baldwin will have his hands in shareholders pockets very quickly, or will it be a placement to associates? I will be long gone before the fox takes over the poultry farm.
Occam
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