icon energy action group website, page-19

from the website - extract from Diannes background shareholder letter to us:

"Background
Ron and I have been aware of the potential of the emerging CSM industry almost since its inception in Queensland because of our investments in gas fired power stations. When Icon sought approval to drill on my property at Goondiwindi we decided it was time to make an investment in the industry. Our investigations showed that Icon was a suitably sized company at an early stage of its development and suited our criteria.

Since early in 2008 I had under consideration, a position on the Company’s Board. At the Director’s request I had asked my husband, Ron Baldwin, to assist the company in finding a market for its gas. Also, as the company lacked financial resources, finance to allow it to prove the reserve and then make the transition from exploration to production.
I recall at the time mentioning to the two directors present at the meeting, Ray James and Ray MacNamara that in my opinion what the company needed was a cash flow. They both thought this remark hysterical and set me straight. They said,

“This is an exploration company and you know what we call “cash flow” in an oil exploration company?”

I replied that I did not.

Ray MacNamara said “Shareholders’ funds”. Ha Ha"
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Oh really boys ! ..... you think its funny ripping shareholders off for years yeah ?

I wonder if you'll be laughing after the egm :-)