Gassed,My unresearched gunk is based on over 10years experience...

Gassed,

My unresearched gunk is based on over 10years experience with this company. I've been there when they were scab-oil hunters in Louisiana, flirting with becoming a dot-com'er, feeding the market with constant short-term carrots and a constant cycle of the "next best thing".

This time round, since 2008, they actually may have some reserves. Something which I think their habitual inclination towards "blue sky" business models doesnt know how to foster and convert into shareholder value.

You really hit it on the head. They have many irons in the fire. But they've always had many irons in the fire. They now need focus. They now need someone who isnt a "deal maker" but a developer of reserves whom is also a great administrator. The guys running this company are great explorers but this isnt just an exploration company anymore. It needs to develop its reserves not spend money hand over fist chasing the next lease or EL.

All your points are naieve in their enthusiasm and weak in their commercial basis.

1. Focus on Lydia. Get it done! Dont spend money on new and creative ways of drilling. Did you see the formation they initially drilled in? No other CSG explorer would have tried this....and for good reason.

2.Chinese investor!! Big deal. It was less than 6%. Chinese only care about 2 things. Majority ownership and owning the use of the resource. Dont kid yourself about the Chinese influence. Anybody that tells yo otherswise hasnt done any business in China.

3.What rubbish. It gives the light that there is no strategic rhyme or reason to their capital management planning. Somebody offers them money and they'll take it. It also adds a perception of overhang as the management breed a constant state of cum-issue.

4.The need for constant media publicity is the realm of retail punters. They dont need more media focus, they need more credibility and commercial results. (Spending $5M on a buildng is not the way to do this)

Finally, ICN (and more particularly RJ) are survivors. I'll give them that. RJ and his cronies have been able to extract millions of dollars from the largesse of shareholders for not a single year of profit in their entire history.

Gassed, if you had put money in a company and you had majority ownership and this company hadnt turned a profit for over 10 years. Would you still have the same MD in place or would you think it was time for a change?

Do us all a favour, calculate how much money Icon has lost over RJ's entre tenure as leader. You should know this given your well researched views.