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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 ripantuckon Feb 16, 2012 2:59pm
295 Views
Post# 19544806

RE: RE: RE: Amazing assays/ poor SP

RE: RE: RE: Amazing assays/ poor SP

Thanks for your reply.  I see your point. Perhaps Dweck or similar is unwinding a position here.

However, my problem with present management is not just the late assay info.  It is more the lack of them outlining their future plans and relating those plans to past drill results, etc. From the outside it just looks like they aren't paying much attention to what they are doing.  For example, many thought the very late drill results meant that they had hit another bonanza hole and thus had everything re-assayed.  The results were excellent, but not bonanza grade this time.  They don't seem to be managing expectations.  Obviously, they were more than twice as long as should be expected even with today's slow labs, yet they gave no explanation.

The only explanation I am left with is that they aren't spending much time or effort managing the company.  I certainly hope that explanation is wrong.  If investors start to have confidence in management, the SP will probably triple within weeks, Dwek or no Dwek.

I know that patience is often rewarded in this type of situation and certainly hope it is true in this case. One thing is certain; we cannot accuse this management of being primarily stock promoters, trying to rip off us poor stupid retail investors.

Rip

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