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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 SevenFigureson Mar 02, 2012 2:58pm
313 Views
Post# 19619560

RE: RE: RE: RE: Tip

RE: RE: RE: RE: Tip

what happens when something goes from being unknown and very undervalued to being known and very undervalued to then being correctly valued is a sight to see, escpecially if the underlying value of the resource (gold) also increases over time (i believe it will). in my opinion,  it's scarier to be out of this stock than in it. they have very little money to do another drill program and wait many months, that's why i think that something will happen to this company (a JV, a new partner, etc like you said, I would also add an NSR deal, also huge PDAC show in Canada is coming up could something happen there?) besides drill results. And it won't be a PP down in the teens that's for sure, otherwise they would have done it in December, but they decided to borrow $500k instead from an unknown venture company (which, by the way, neither ICN or Colorado Resouces has filed their 12-31-11 report, which I find interesting, Hering is on the Board at Colorado and last I saw they have over $10 million in cash on the books despite being a small company)... this loan showed me they are very protective of diluting the stock. also, a lot of 'payment' to Lode Star is in shares and warrants, so LS has a vested interest in seeing the share price rise and as little as dilution as possible...but LS is owed another 1,250,000 units which they would love to be issued at a low price down here. unless folks think there's no more than 50,000 ounces at Goldfield alone (heck IMZ has 780,000 M&I and Inf to the east in the area that was mined back in early 1900's etc), then this thing is severely mispriced... by the way, IMZ is nuts not to try to get a piece of ICN...the risk/reward ratio here is off the charts... none of the other dozens of jr miners that i try to follow in my opinion has a better risk/reward ratio, no matter where they are on the planet, let alone in Nevada next to road, utilities, and housing...

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