just for interest, page-59

6379. There is no LAW SUIT hanging over their heads. One letter from Baldwin's solicitors does not represent a law suit and if you look at all the details involved, how can that "threat" from Baldwin even get to first base?

But, now that you have raised it, I really would like to hear your comments on the "merits" of what Baldwin has stated in his "claim" and what sort of "threat" you think that that presents to Icon. I think that you owe it to this forum to justify such a potentially damaging post.

It is "trading" at 13.5 because it is NOT trading. Check the volumes. This is an extremely tough market and O&G overall has been smashed over last two years. The market only responds to positive ACTION, and there is absolutely no action on the Icon front to attract ANY interest in the stock.
Nothing will happen to the S.P. to justify what potential is just waiting to be proven and we won't see that for a few months after the fraccing and testing programme is well under way, and that doesn't even start until July.
So, while there is no new money coming into the stock, all that is happening is LT holders, and those that are seeing the potential, are taking the opportunity to accumulate.
It's all about RESULTS and we won't see them for a while, so, unless something comes from way out of left field don't expect too much movement in the S.P.

I hope people heard the Santos presentation yesterday and it was particularly significant to Icon in that Santos sees the Cooper Basin's shale as being one of their prime objectives and very pleased with the performance of TWO wells that are already in full production, with Moomba-1, still producing @ 1.8 mmscfd after nearly 2 years!! That is the sort of "small print" that the overall "market" is missing, or, just holding back until Icon's results come through.

It is a completely different market to that of pre GFC, it's now all about income and capital preservation.
The fund managers and punters are simply saying why tie up cheap cash accumulating an O&G explorer with no cash flow when you can use that cheap money to get both. e.g. 25% capital growth PLUS an 8-10% grossed up dividend from CBA!!!!! Says it all.