Australian (ASX) Stock Market Forum

ICN - Icon Energy

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What a load of crap! No certified reserves but we are going to export billions of dollars of gas. Absolute rubbish - I look forward to the ASX investigation on misleading the market AND the lack of trading halt
 
Dangerous said:
What a load of crap! No certified reserves but we are going to export billions of dollars of gas. Absolute rubbish - I look forward to the ASX investigation on misleading the market AND the lack of trading halt
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Yes, don't you just love it. Pilot test flows are looking really bad (non-commercial as of yet), yet they sell $32billion worth of gas.:banghead:

It is the silliest thing I have seen in a while. I wonder how many insiders have bought in the last week, and sold out today.;)
 
not to mention no LNG plant!??

I am going to go to briefing tomorrow as it is a block out of my way.
 
grace said:
Yes, don't you just love it. Pilot test flows are looking really bad (non-commercial as of yet), yet they sell $32billion worth of gas.:banghead:

It is the silliest thing I have seen in a while. I wonder how many insiders have bought in the last week, and sold out today.;)
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its a strange one alright! wish i could stay home and watch/play the action. Still... there must be something in it... Maybe they will basically play 'facilitator' between various JV partners yet to be announced. watching with interest.
 
I also remain sceptical. ICON Energy ??? They always seemed to be full of hot air if you ask me.

Fun to trade with if you're into that sort of thing but way too dangerous in my books. HUGE dilution, hanging onto announcements with zero intrinsic value on the company books. The Board Of Directors must be a real gentleman's club - lol.
 
Don't you get it "I" "Con" Energy.

The Chinese got co****.

Guess who has CSG & LNG plant by 2014, from memory with no market/customer for their LNG?

Now all they have to do is c** Oxxxxx Energy to buy them over & hey presto they have a customer for the LNG.


Just thinking a loud.
 
This Chinese Company - Shenzhen Sino Industrial Development Ltd,
established in 2006 with a registered capital of RMB 196,480,000 (~AUD 30 million) by 2008

... and what was this deal we've got here?

32 billion $ gas deal :eek:

Look at their website, half Chinese, half English, spelling mistakes... this website (sinogas-intel_com) was only approved in May 2009 by Chinese authority. CEO of the company is apparently a certain Mr Yang - link above names him in full - Yang Wenqing. (edit: actually later realised he is named in full on the About Us pg)

And guess what? This guy was arrested 17th November 2009 for fraudulent investment!

No quite sure who's con-ed who in this case lol :eek:

Sorry about the links... not enough pts to post them :(
 
Be interesting to watch the close here. Had multiple attempts at breakout. Think I might grab some if that lump at 24c starts getting eaten into.
 
I chased this for 20 minutes after missing my 24c entry by about 1 second. At 27c I backed off, pulling my bid and ended up with nothing! Good day's work.

I liked the look of VOR into close. Hoping for a 10c rise there if DOW is green O/N. Futs are up at the moment.
 
grace said:
Yes, don't you just love it. Pilot test flows are looking really bad (non-commercial as of yet), yet they sell $32billion worth of gas.:banghead:

It is the silliest thing I have seen in a while. I wonder how many insiders have bought in the last week, and sold out today.;)
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Yes indeed grace, you've been banging your head for 13 months and it looks as if little has changed. Not only was their last well a bit of a duster they've also a court battle with BPT. Ho hum errrr what aye, cor blimey; anyway, the stocks around 18c and the market cap under $100mln and BPT's well over $1bln, so a shale oil strike would benefit ICN's stock price most.
Add ICN to your monitor by all means and watch very carefully, who knows, it could spike suddenly.
 
If you want a high risk stock, selling what they haven't found yet and a virtual punt in the dark, then hoorayyyyyyyyy, you've found it, hats in the air; Yes indeed! - It is Icon Energy ICN.

A better thought is that they are a bit of a BPT in wolfe's clothing, I jest ... at about 8% of BPT's market cap. One good find followed by another and they'll be racing ...
 
noirua said:
If you want a high risk stock, selling what they haven't found yet and a virtual punt in the dark, then hoorayyyyyyyyy, you've found it, hats in the air; Yes indeed! - It is Icon Energy ICN.

A better thought is that they are a bit of a BPT in wolfe's clothing, I jest ... at about 8% of BPT's market cap. One good find followed by another and they'll be racing ...
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Unsure about ICN's likely reaction to BPT (90%) and ADE (10%) Holdfast-1 well result. So ICN for gamblers only - will they come off or not?
 
noirua said:
Unsure about ICN's likely reaction to BPT (90%) and ADE (10%) Holdfast-1 well result. So ICN for gamblers only - will they come off or not?
Click to expand...


Icon Energy ICN with the court cases behind them and Beach Energy BPT may now be in the firing line with Adelaide Energy ADE all but picked up by BPT.

Findless ICN look very likely to be in with a big chunky stake in a very first find, now a tie-up with BPT is in place, and their time looks short.





ASF: You have a chance to vote for your favourite forum at http://www.thebull.com.au/the_stockies/forums.html
 
My guess, that a bid for Icon Energy is certain once Beach Energy BPT fully complete their bid for Adelaide Energy ADE; this bid is likely to be more of a struggle than ADE and at a larger premium as ICN's stock price has fallen sharply and may be a stock offer as well as cash.
 
noirua said:
My guess, that a bid for Icon Energy is certain once Beach Energy BPT fully complete their bid for Adelaide Energy ADE; this bid is likely to be more of a struggle than ADE and at a larger premium as ICN's stock price has fallen sharply and may be a stock offer as well as cash.
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Is it a possibility that this potential move (well reported on recently) may be pre-empted by a strong bid from another source such as AWE or someone else trying to get in on the action?
 
mr. jeff said:
Is it a possibility that this potential move (well reported on recently) may be pre-empted by a strong bid from another source such as AWE or someone else trying to get in on the action?
Click to expand...

ICN have all the contracts in place to sell gas but haven't found any yet. They are presently drilling a well at ATP626p and this is probably one of the two hinges, the other is the 40% interest in ATP855pp, Beach 40% and two Adelaide Energy subsidiaries Deka Resources and Well Traced that own 10% each.
 
Noirua thanks for that. Sounds like a risky way to do it, but partnering with Beach makes the risk sound more justifiable - don't think they would partner without good reason.

21-02-2012 5-45-09 PM.png

Looking interesting and closing above that long term level that will hopefully offer decent support.
 
I like this at current prices (28c) up to 33c (target).

Symmetrical triangle break (19th Mar), 27c was a better entry but I missed that.
 

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