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Icon Energy Ltd V.ICN


Primary Symbol: ICNOF

Energy Oil & Gas E&P
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

Icon Energy Ltd > BUY ALL YOU CAN
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Comment by Yeswecanon Jun 01, 2011 1:35pm
248 Views
Post# 18657212

RE: RE: RE: RE: RE: RE: RE: RE: BUY ALL YOU CAN

RE: RE: RE: RE: RE: RE: RE: RE: BUY ALL YOU CANYour 5 rating indicates to me that other readers, including me, find your honesty refreshing.  The grades in the recently reported drill intercept are simply stellar.

If that was not just a fluke hole that tracked along a narrow high grade vein, and it turns out that there is some tonnage here and that the very high grade gold mineralization spreads over any distance... you will easily have a easy 20 bager imo. The drill cores are probably profitable at the grades intercepted!

The bottom line though is that while great intercepts are exciting, the determination of the sum total of the valuable mineralization present is what ultimately determines the value of the asset.

This is still a highly speculative venture at this point.  However,  I am in because the risk reward ratio is very favourable.  If they get more great intercepts, the share price will jump dramatically....if they don', the shareprice will only lose 50% of its value, imo,  but still be a safe bet because there is a lot of property to explore and plenty of gold just waiting to be found.
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Dealroom for high-potential pre-IPO opportunities