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

<< Previous

Bullboard Posts

Next >>

Post by SevenFigureson Mar 15, 2012 2:42pm

327 Views

Post# 19675913

ICN Coffers

ICN needs money. ICN, nor Lode Star, does not want to dilute at these firesale prices. What to do then...

The following news release from back in December from Chieftain whereby Royal Gold fronted $60 million provides one possible template for a possible deal scenario:

https://www.stockhouse.com/financialtools/sn_newsreleases.aspx?qm_symbol=T.CFB&newsid=8390286

I don't think Lode Star would be interested in a JV-type scenario since they have already given up 80% of Goldfield for $5,000,000 worth of work, $3,000,000 in cash, and 3,000,000 units (3,000,000 shares and 3,000,000 warrants - warrants so far issued are 1,750,000 total, at these prices: 500,000 at 44 cents on 4-13-11, 500,000 at 25 cents on 10-13-11, 750,000 at 26 cents on 12-19-11...remaining 1,250,000 pending as previously discussed)