Beckham...you are right.The money from the last rounds of...

Beckham...you are right.

The money from the last rounds of dilution been squandered for nix.

This all should have been done 18 months ago through a SPP involving shareholders and a properly contracted rig...$3-4 million was all that is needed to get the dewatering and flow rates. Even without 2P reserves, some flow rates would have underpinned confidence and we would be sitting at 50 cents and negotiating (raising capital) from a position of strength.

If those options are converted soon, that would raise $2million and then they could raise another $2million in debt finance or through a small SPP. RJ should take a wage freeze until after flow results are in - or work for options convertible at 30 cents. Mav suggested that rigs aren't that scarce???

Its ironic that RJ has been so reluctant to issue capital thus far to prevent dilution, but now we see more potential dilution than we ever imagined - and giving one party a controlling stake in Icon.

If by some miracle, some QGC/AOE people replaced the current management I would have no hesitation in paying 30 cents for this stock.