where is the balanced opinion wrt mou ?

I just thought I would point out the hypocrisy of some commentators, when it comes judging some aspects of Icon's business plans.

When ICN announced its MOU, I stated that it could only be a positive development, even if it came to nothing. But some members of the media and some HC posters, mercilessly bagged the MOU as a sham.

Most of the attack was direcred at ICn because ICN had no reserves booked to satisfy the MOU.

Well, how come BUL has not been equally slammed?
It has signed an MOU, but also has no reserves.
So shouldn't some abuse be directed to BUL now?

How dare BUL sign a MOU without having the requisite reserves!
How dare BUL work the business plan from the wrong end!

cheers

**************************
MOU Signed for Supply of Gas
Blue Energy Limited (ASX: BUL) is pleased to announce that it has executed a Memorandum of Understanding (MOU) with an experienced and respected international electricity generator for the supply of 6 ? 10PJ of gas per annum over a 15 - 20 year period. It is envisaged that the gas will be supplied from Blue Energy?s ATP814P permit area near Moranbah in central Queensland and will be utilised for power generation.
Whilst the MOU is non-binding at this time, it reflects the initial stage in development of a potentially strategic relationship in the northern Bowen Basin.
Blue Energy?s ATP814P currently has 2,063PJ of recoverable 3C contingent resource (as independently identified by Netherland, Sewell and Associates (NSAI)) together with a shale gas prospective resource of 3,630PJ of gas in place (also as independently identified by NSAI), and this resource is located in close proximity to significant coal mine infrastructure with large energy consumption potential in and around Moranbah.
Execution of this MOU signifies a significant milestone in the path toward commercialisation of the gas resource in ATP814P. The MOU will also provide the economic framework with which reserves (under the SPE/PRMS definitions) can be attributed to ATP 814P.

(source: ASX release)