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Icon Energy Ltd V.ICN


Primary Symbol: ICNOF

Icon Energy Limited is an Australia-based oil and gas exploration company. The Company has a 100% interest in, and is operator of, the ATP 855 tenement and the basin-centered gas resource that it contains. The Company’s ATP 855 is located in the Cooper-Eromanga Basin on the eastern side of the Queensland and South Australian border. The Company's tenements include ATP 855, PRL's 33-49, ATP 594, PEP 170, PEP 172, and PEP 173. PRL's 33-49 are adjacent to ATP 855 on the western side of the border, and both permits share part of the Nappamerri Trough. ATP 855 is located in the Nappamerri Trough, one of the six troughs within the Cooper Basin. The tenement covers the deepest part of the trough, containing the thickest sequence of Permian sediments in the entire Cooper Basin. It is within these sediments that a large, unconventional, basin-centered gas resource has been discovered that extends across the entire tenement. ATP 855 occupies a total area of 1,679 square kilometers (km2).


OTCPK:ICNOF - Post by User

Post by llamabingoon May 17, 2011 12:31pm
427 Views
Post# 18588152

paciencia será recompensada

paciencia será recompensadaMan, there sure has  been some amazingresults lately ie NES hole #37 a month ago, and these 3 holes especailly #3  from ICN today . And there have been some duds i dont bash so well leave those tickers annon but the thing these results have in common is great geologists. Carl Herring is a magician and i applaud these results and also appreciate his humility 
     "These initial results are extremely encouraging. While we are targeting high grade mineralization in our overall exploration program, it was not anticipated that we would be this successful in the first few drill holes. It is necessary to complete additional drilling in order to fully understand the significance of these initial results. Nonetheless, it is important to recognize that the results do validate our exploration model in the district, exploring for high grade "main district" style mineralization under the post mineral cover.

 Also in the NR they point out that "  It should also be noted that check assays on the entire interval reported herein for hole ICN-003 were completed at a second laboratory prior to releasing results as a precautionary measure given the high grade mineralization. All of the original results compare favorably with the check assay results"
imo this is an excellent practice especailly when reporting vertical holes with out true widths known as another poster commented "wtf" i agree and its nice to know they were double checked. 

Excellent geo team and time to build/ model these reuslts and future results the timming going forward will hopefully align with a recovery in the au price and shareholders will be rewarded.  The company is well funded and has excellent partners they rasied 4.2mil issuing 14million shares which have been free trading since feb and 753k warrants exp price .33  with 2.5 million shares trading so far today and good upward action the last few weeks the pp money should be worked through shortly. 

while waiting for au price to recover complete your DD and start by looking into carl herring

adios
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