It all depends on what you want on THAT particular "someday".
IMO, there are many "somedays" ahead of Icon, before that ultimate "someday" that it appears you are waiting for and I belive that your "someday" is much further away than mine. Sure, it is going to take time and money to get into the production stage, but, what about the stages in between?
Those stages are what will bring the earlier of the "somedays" that I am looking for. The market re-rating Icon from a pie in the sky, dreaming minnow to one that is able to satisfy the conditions precedent of the $30 Billion Shantou GSA and have Proven 2P gas reserves.
IMO, we are MUCH closer to that "someday" than your ultimate goal.
The "ultimate goal" will be when we have started to ship that LNG to Shantou and get those huge dollars into our bank account.
If that is all that you are waiting for, then, yes, tie a red ribbon around your shares and put them in the bottom drawer for a while, but, DON'T take your eye off the ball in the meantime.
Forget 626, it will cost us nothing anyway and being CSG, it is subject to all of that environmental garbage and the like that has crippled the CSG industry and destroyed the SPs of all companies involved and WILL double the price of gas on the eastern border of Australia. But, in the overall Icon scheme of things, 626 is chicken feed compared to what they are expecting from 855. Nice little earner, but, not losing any sleep over it.
Today's report that was previously posted, just confirms that all the gas that will be produced over the next 2-3 years in QLD has been fully committed to the LNG plants for export (all under existing GSAs) ALL of it, and at EXPORT prices, which DO make shale gas commercially viable, unlike having to sell it on the domestic market at current prices. THAT will simply NOT happen.
The Eastern states will HAVE to beg to get any of it and short of simply paying the export price and smashing everyone's budget that uses gas, those that have imposed those huge regulatory restrictions, yes, the relevant governments, will have to pump many millions into the shale exploration, development and infrastructure to expedite and stimulate the required production!!
Would be nowhere else but the Nappamerri Trough with a GSA already in place.
ICN Price at posting:
14.5¢ Sentiment: Buy Disclosure: Held
(20min delay)