spot on sydney6791. These from recent reports:- 10 February 2021. "been leaking a small amount of gas. As a safety measure, it was decided that the well head should be shut in and the valves removed to Roma for re-conditioning. Therefore, the testing will now be delayed until this work is completed.
16.4.2021 The restoration of the remaining four wells has now been rescheduled to be completed in three years’ time. A new quotation for the remainder of the work will be required. The Department of Natural Resources Mines and Energy (DNRME) has granted Icon an extension of the current Later Work Program (LWP) in ATP 855 for two years until 29thOctober 2022. These are most definitely the two most significant factors on the public record that require complete clarification.
Halifax-1, is clearly a critical factor which could, in fact, provide the company with a drastically income lifeline. Halifax-1 provided by far the best flow rate in the Cooper Basin at that time, BUT, there were 14 stages stimulated by Beach and Chevron and no specific zone was established from where that flow came, could have been from the combined 14??? But, further analysis has determined that the Callamurra Sandstone zone, appears to be the most prospective for commercial exploitation. BUT, it is "fossil fuel"!!! The restoration cost is also critical regarding the very viability of the company. What is the cost of the remaining work and what is the amount of the new agreement with the DNRME which "should" still appear as a "contingency" on the books ."Three years time"???!!! How can the company be confident that they will still have sufficient funds to complete that work and to remove that contingency? Without those factual details, shareholders are travelling blind and it's a pure punt!!. March QR "could" be interesting.
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