what the neighbors think?, page-11

Well Superlib I can tell you what the experience and achievements of Baldwin are - they make money for themselves and shareholders. They ran a clothing company in the 80's in Australia, survived and sold on at a profit. They have invested and run other enterprises in diverse industries from power generation to farming and they have made money. They have made money for themselves and their partners in those businesses.

Now lets look at the experience and achievements of the current Icon Board. They have spent other peoples money (Icon shareholders) on themselves. They have given away other peoples resources (Icon shareholders) to QGC, Santos and Stanwell.

Look at the Stanwell Deal - under the deal Stanwell get to purchase 340 PJ's of Icon's resource for $36 million. By contrast Arrow is bidding $890 million for Pure Energy based on Pure's 2P reserves of 394 PJ's. Do the sums, the Stanwell Deal is a stinker.

Have a look at the commentary on the Stanwell Deal contrasted with Arrow's revised offer for Pure in the following link.

http://iconenergyactiongroup.org/images/pr16feb.pdf

The Stanwell Deal is a gut wrencher of a deal if you are an Icon SH because effectively the Icon Board unless they are ousted will take away somewhere between 200 and 400 million from Icon SH and give it to Stanwell.

If this lousy Icon Board is ousted then SH can expect to see a share price like Pure's up from 20cents (or thereabouts) a year ago to $7.16 currently.

The bottom line Superlib as to whether you vote for or against the new Board is whether you want a Board who make money or a Board who spend it.

BTW don't you think its a little desperate to pull up newspaper articles from 30 years ago about a legal case the Baldwin's won and claim that its somehow dodgy. I think it shows the Baldwins fight and win.

Strength and honour