Looking back at past announcements, Santos has 20 million ICN options they can convert to shares between 31 Dec 06 and 31 Dec 08, at price 20% below previous 5 day average. If Santos intend exercising their options 31 dec 06 it would be in Icon's interest to work on share price next few weeks. I would think Santos adding to their ICN holdings would be positive for the company even at the discount.
chart wise four cents is the major buy level, page-23
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