old hc back, page-28

"The sell off had absolutely NOTHING to do with the fundamentals of Icon Energy!"

The market is very edgy with this one, you could see it in the price behaviour way before the irresponsible BPT Ann.

Then the market sees an announcement that the first test well, after reaching a high of 4.2MM scf/day nose dives to 1.8 after the well was reopened following a shut in due to rain. The market got spooked because fundamentally its thinking Halifax1 is a dud, going from 4.2 to 1.8 looks bad.

But logic dictates the parameters changed between the time of the shut and the reopening. I got information yesterday it's most probably the remaining fraccing fluid sitting above the gas unit repressing the gas flow.

Non disclosure of the shut in and the irresponsible BPT wording should catch the eye of the ASX.

So no the fundamentals haven't changed, but rather the perception by the market has!

Let's see what ICN comes back with hey.