I'm surprised nobody here has heard a whisper of something, or at least speculation of something.
Icon is so black and blue from being beaten up that I had to triple check my screen when I saw the price move today.
For the record, ICN has a lot of excellent attributes for a speculative play:
- heavy position in key acreage
- substantial resources identified
- top tier operational partners
- route to market via the GSA
- fully funded to next de-risking watershed
- low political/environmental risks
- great access to markets
With a few risks:
- limited flow data to date
- unclear production costs so far
- high CAPEX needed long term for development
- risk to meet GSA hurdles
On balance, it looks very undervalued to me, and it looks like I've begun to convince the market ;-) but the nature of the beast is that everything is riding on one outcome.
As somebody said in another thread, it will be the basement or the stars with this one.
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