Yes I agree if the GSA has fallen over or was to be extended...

Yes I agree if the GSA has fallen over or was to be extended then one would have expected that a simple announcement like the previous made to the market would have already occurred.

Remember the last extension notification did not result in a trading halt for the announcement so if the above was to be announced after a trading halt I would consider this to be poor form and to be investigated by ASIC as there would be no reason for holding this information back from the market if this is already known by the company, irrespective of whether this sends your share price lower.

The market must always be informed.

I think this is more significant and I suspect (i could be wrong) that the chinese state Joint venture partner with Sino, already known to Icon, has been finalised and the GSA contract is being given due respect to the conditions by the legals before an official signing and release to the market.

Yes the market did drop early but there was a 300K buy before the announcement so I am not reading to much into this and you will note that BPT was also down on the day.

What is more important to ICON shareholders in the short term is tomorrows announcement from ADE/BPT on the latest progress of its shale gas drill. Icon S/h need to look for the size of the REM Shale/Sand/Shale being reported, which if it is the same as/or greater than the 1st drill will point to the true potential value of 855. These drills are some 20 kilometres apart which gives you an idea of the potential of this trough which runs between SA/QLD. If eventually proven, this will be one of the biggest shale gas discoveries in Australia and then you will fully understand why the play is occurring between BPT/ICN.