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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

Comment by mousermanon May 18, 2011 12:26pm
286 Views
Post# 18594570

RE: RE: you have to read the hole right:

RE: RE: you have to read the hole right:Very surprised there isnt a follow thru here in volume here. EVEN tho they hit some very rich veins in drilling the , remainder of the holes hit great grades at shallow open pittable depths.  This will be more than economical if the ore bearing high grades vein rocks are surrounded by lower grade material with 4 gpt gold.
Low market cap and low OS share counts. Apparenlty not real strong hands holding here tho, as there was a lot shares bought yesterday at much higher prices.
I like the looks of it, and began a position at .68 yesterday and added more today at .67. If we see a pullback in the next week, will ad more again, longterm this has the makings of a very big resource in a small area.
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