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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 anton200on Jul 14, 2012 1:04pm
264 Views
Post# 20113611

RE: RE: Company at a standstill

RE: RE: Company at a standstill

Hi Christo -

Alas indeed.

In a sense my questions are rhetorical, in a sense not.  After all, there will be survivors and there will be casualties.  People like Rick Rule say find solid companies with good properties and with enough cash to weather the storm and come out the other side.

In the case of ICN Resources, cash appears to be an issue right now, though Carl Hering is well-respected in the industry and seems like a straight shooter and the properties appear to have a lot of promise. The question for me is, do I have faith that Carl can find the cash and forge ahead by hook or by crook and survive the massacre, or is investing in this company a foolhardy proposition?

Or perhaps they have the financing lined up and are in dormant mode, waiting for the market to show some signs of turning around and then will release a series of fabulous announcements... I haven't put any money into this stock yet, but have been watching it closely, studying the properties etc, and it does appear to have some exciting prospects, but plenty of companies with exciting prospects have gone down the tubes - especially in this market.

Fingers crossed,

Anton

 

 

 

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