what the neighbors think?, page-18

Ah slixster but you have missed the fine print in the Stanwell Deal - Stanwell will be buying proven reserves of 340PJ's not a resource. They will pay Icon $36 million for 50% of 340PJ's. Stanwell have the right to extend the 4 blocks to half of ATP626 until Icon can prove reserves of 340PJ's

So a comparison with Pure is correct. The difference between Pure and Icon is the board of directors - Pure have a good, hard working, pragmatic board and Icon currently have ... well I think we know what Icon have don't we.

The market is always right. The market have evaluated the Icon board. If SH want a share price like Pure's they know what to do.

PS Slixster you might give some thought as to the cost of proving 340 PJ's of reserves - something of the order of $100 million. Where is that accounted for in the Stanwell Deal and where would the present incompetent directors of Icon find that money?

Answer - by a takeover.

Question - who benefits from a takeover?

Answer - not Icon SH but Ray James has a 2 year termination clause in his contract in the event of a takeover. So maybe the Ray James strategy is to rake up his already exhorbitant salary, run Icon out of money, then force a sell off and walk off into the sunset clutching his millions.

Nice if you can get it.