Ann: Icon Energy Ltd Appendix 3E Daily Buy-back Notice, page-6

Croc, For the life of me, I can't possibly see anything "sinister". We have over $20 million in cash, that could go to $27 million, or more, with the research grant that is due, we own the real estate where the office is run and that equates to the current Market Cap when we are down to .06 (and lower!!!) and we own 35.1% of a proven basin centred gas province undergoing analysis and testing after 6 wells drilled confirming that province?? So, fundamentally, the current market cap is quite irrational. But, this is NOT a "rational" market.
The buy back hasn't bought any for two days, so, without any reason for the market to buy, even small trades are just wiping out the small buyers in the market.
I just reckon that it is the lack of any news from the company telling the market where we now stand since Chevron pulled out. The market thinks that the Nappamerri Project is being put in cotton wool and there is absolutely no catalyst to support anyone buying, other than those who still have the (rightful) long term outlook. The Nappamerri Project is far from being put in cotton wool, lots happening, and has to happen, to get to Stage 2 but IMO, market can see better, shorter term, opportunities elsewhere.
Without "something" happening in the near term i.e. APT594 drilling, what incentive is there for a "results orientated" market?