fin review page 20, page-8

Just a few excerpts from the ann on 29 march which some people may have missed.


The supply terms of the agreement give Icon Energy flexibility to supplement its own resources with suitable contracted third party feedstock gas and which could serve to unlock stranded gas in Queensland and elsewhere.

?I envisage commencing discussions with identified and prospective co-venturers in the next couple of months, with a view to building Icon Energy?s gas bank?, Mr James said.

?Another critical term of the BINDING agreement with Shantou SinoEnergy is that Icon Energy is not locked into supplying LNG from a single nominated port. We have already considered Queensland and South Australian based options and are currently in the process of reviewing co-operative arrangements with one of the many Gladstone LNG projects for supply out of Queensland.
We will be looking to commence drilling in the Cooper-Eromanga Basin ATP855P tenement around June or July and thereafter in our Gippsland PEP170 tenement.
It was also premature for Icon Energy to make any comments on funding and investment options, although Mr James indicated that he was already in discussion with preferred advisors with a view to securing project investment.