Ann: Icon Announces Contingent Resources in Lydia, page-3

re: Ann: Icon Announces Contingent Resources ... The sell down is probably because:

- It's Friday (as already pointed out)
- Typical 'buy the rumour, sell the fact' strategies going on
- 260 is not equal to 340

Personally I feel this figure is very close to the requirements for the Stanwell 340 and with only 13% of the tenement bringing 260 (which is very prelim), with all the new developments ICN are making, the 340 for Stanwell will be met (remember, even if it can't with the Stanwell $36 million, it's still a 50/50 split of the extra cost between ICN and Stanwell to certify it, not for ICN to be burdened with fully) and there will be a surplus of gas proven from around the remainder of the field for ICN to call their 100% own.

Plus the other perks of ATP849 (right next to BOW's Don Juan oil field and SHG's Lacerta CSG field) and the potential for PEL218 to show oil as well.

I'm not selling, but yes, it will get probably sold down in the short term for the reasons listed. Let's see if there's some afternoon chasing...