icon energy company overview, page-15

The flash back of ICN selling out the first CSG fields to QGC for cash has brought back pains in my chest. I think the wells were called Argyle.

I never understood how ICN could sell out of the one valueable resource they had and then blow all the money they got from QGC quickly.

The situation is different today.

ICN have :
-the supply MOU.
-current wells underperforming.
-fields that have potential to provide the gas.
-potential jv's with BPT to prove up more gas.

Possible future moves by ICN:
-BPT jv discussions and plan quick drilling(by end of year). Sign contract by Aug 2010.
-jv agreements with other small CSG companies in the same region and plan quick drilling(by end of year).
-delay and fail to get contract signed by Aug 2010

good luck.