As far as I'm concerned holders or non holders both have ever...

As far as I'm concerned holders or non holders both have ever right to post here. Its irrelevant if you own it or not. Have to be careful either way though. Holders can have a biased view and sometimes non holders can have a gripe with the company and focus only on the downside.

As for speculative companies not becoming producers for years, well thats very common. For starters its years between exploration and production, thats not taking into account bear markets where it can be hard to raise capital or sovereign and bureaucratic hurdles etc. Have a look at Tiger Resources. Been around for nearly 10 years, had the Kipoi project for nearly just as long and will be producing next year.

I think a placement for the Chinese at a premium price is a big deal. Usually companies need to provide placements at a discounted rate to attract investment dollars. It clearly signals confidence in the resource. If they did in fact gain majority ownership, apart from mismanagement hows that going to affect other shareholders? Chinese investment certainly didn't hurt the FMG shareholders! Just to name one.

I've been following this company for years. Just the other day I finally invested at 20 cents. Energy, particularly cleaner energy is in great demand and will continue to grow internationally. Its a sellers market. I feel extremely confident, given the tenement areas, Icon can certify the required 3300pj into 2p status to meet the required amount needed over the next 20 years. If not they have the option to source the shortfall from 3rd parties. Wouldn't be to hard considering how rich the eastern states is with CSM.

"Please, someone tell me, why if you had almost $30M of drilling budget would you then raise another $5.9M"

Don't think Stanwell would be to happy their $30mil is getting used for drilling other than for the Lydia project. It would also launch the directors into some serious legal hotwater. Clearly stated in the announcments who funded the $30mil and what it is for.

"Focus on Lydia. Get it done!"

If you have the resource and administrative capacity to develop 2 projects why would you just concentrate on one? ICN have until 2013 to certify 266pj(2p) to give them a four year buffer of supply in respect to the SinoGas deal. Anyone here seriously think that can't be done? Off course it will be and SinoGas think so as well. Dilution is a issue at these levels but when you are talking about $25billion+ worth of sales, dilution is hardly going to stop the share price from appreciating considerably. Into the dollars in fact!

"It needs to develop its reserves not spend money hand over fist chasing the next lease or EL."

Lydia is getting developed and its only logical they are going to aquire other leases to help contribute gas in accordance with the SinoGas contractual terms. Again clearly stated in the announcements.

If the MOU isn't converted I'll be buying more when the share price heads down.