fyi article, page-24

Yes Jake and still we hear not a word from Icon management do these guys exist or are they just figments of our imagination.

If you keep sitting on your backside doing nothing then your right we are sitting ducks and it might turn out worse then ADE.

Beach want only one thing and thats the rest of 855 anything else they pick up cheaply on the way is a bonus (not that icon has to much more to offer). Asked yourself what other tangible assets does ICN have thats of any value, they have no gas they have a dud 626, they have been negotiating nearly 12 months on the Vic tenement- still no progress . Have the GSA with no gas but have not negotiated with any parties for supply to meet their requirements.

Look at the last 12 months they have been sitting around in hope. 626 was going to bring them wealth, now its a dud, then RJ switched to 855 as the next big hope then surrendered Icons 80% interest to 40%. For what gain, the first drill and some cash - Well guess what follows after - costs to production. At the first challenge Icon went weak kneed. If they were looking for cash why did he not approach the chinese. To busy thinking of yachts and red wine and the great australian sunset.

In real terms ADE had 30% of the basin, ICN have 40% ADE got offered 20c so what do you think BPT would place on ICN it could be less.

ADE had actual assets , the GAS Plant, was selling gas into the market, had underground gas storage license recently granted by the SA Govt which it planned to lease, had tenements in the ottway basin, recently identified oil, had recently organised a rig to drill, had joint ventures shale plays in QLD and over 11 million in the Bank. With that they got offered 20 cents.

This is another train wreck just waiting to happen hey but the board won't be concerned go back and see how much RJ and his team have earned over the last 10 years and compare it to what they have delivered to shareholders especially those that chipped in with the last share purchase plan at 30 cents we now sit at 15.5 cents just above ADE value before takeover.

I'll let you draw your own conclusions