Patience still required. Fraccing and testing takes time, no one...

Patience still required. Fraccing and testing takes time, no one can give exact dates and no one can tell the well when it will clean up.

Now something to bear in mind prior to results.

The results of halifax flow will be compared and judged against the existing BPT results in PEL 218. Bpt's share price movement will reflect this.

Icon's share price movement is tied to the bpt evaluation, however the one thing to remember is that Halifax is really Icon's maiden well in this basin (play).

So if there are some mediocre flow rates compared to beach (say equivalent), they are still good rates for icon, and for subsequent wells to compare to.

More importantly, Icon will get their first reserves from this well and will finally have an asset that is bankable (other than the high rise on the GC). Since BPT has done quite a good initial converage of PEL218 so far, I hope that the halifax results will be part of the reserves increase as I believe we will benefit from this rather than on a standalone 1 well basis.

So in summary, if the well comes in, great, Icon will see a much higher increase (%wise), but if it is lower than expected (compared to 218), any drop (barring unexplained extremely poor results) is potentially a buying opportunity for when a BPT reserves update is announced.