trading halt, page-25

my guess is that ASX release signed by Coy Sec because RJ overseas.

t/h is required to allow RJ and Chinese to sign a document, which will cater for the imminent passing of the drop-dead date ie 31 March 2011. that doc could be anything.

I would have bet on a GSA, but with the last minute selling, I am a bit nervous.

I still think we will get that GSA. If it is not the GSA it will be an extension because the CHinese have not got all their approvals in place.

if ICN has to give Chinese an extension, thenI hope they at least, announce who the other J/V partner is, so that would at least give the process some credibility.

that would be the smart thing to do.

wrt to BPT claim, whilst this might be a convenient excuse for the CHinese to request an extension, i would have thought the claim should not have a bearing on them executuing the GSA - because the GSA is going to be based on ICN obtaining the required level of cert reserves anyway.

also, the worst that can happen is that BPT gets 40%. And the CHinese knew BPT was going to farmin to 40% way back last Oct 2009 - so if the Chinese did not like the idea of the beach farmin- we would have heard about it by now.

(ps - i like the idea of the Chinese farming into ATP855 - but i think that is a long shot- because ICN does not have the expertise - I wonder if any of those Chinese O&G coys have any expertise in shale oil/gas? eg like Sinopec?)