G'day Vala. This mob has been so disappointing, some not their fault in fairness to them, that I simply cannot believe that management could possibly be just sitting around waiting for their weekly pay cheque.
We were looking so good with all systems go in 855 and then the price of oil crashed and everyone ran for the hills.
But, you asked me a fair question, and I genuinely believe that 855 is still their (our) big play and unlike nearly all of the other 400 minnow exploration companies, we at least have cash, own a building, and have a few billion dollars worth of gas sitting under 855 and we own 32.5% of it. We have drilled 6 wells and all were full of gas, so, all that is needed is for those wells to be proven up and fully tested and then, IMO, start producing. Those factors are real and I'd guess that Ray James would be having some long chats to several parties to get 855 moving again.
That's what Ray James is so very well paid to do and knowing him, he wouldn't be spending too much time on that yacht of his until he gets that done.
Icon has an AGM, probably in the last week of November, so, not far off, and I'd be most surprised if we haven't heard "something" by then. Sorry, nothing new, but, hang in there until the AGM and see where we are heading.
P.S. I've picked up a few at this price for the grand kids too.
ICN Price at posting:
2.8¢ Sentiment: Buy Disclosure: Held
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