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Well, it was a buy the rumour, sell the fact moment for Icon last week when the maiden resource of 260PJ of 2C was announced I'm afraid.

Still early days for this little gasser, but it doesn't look too bad at all.

It is only contingent reserves, so some big hoops still to jump, but we should get an idea about that very soon as the 3 Lydia pilots are on production test, and the forth about to go on. These are more important, and will progress the reserves up to 3P. If the 260PJ is proved up to 3P I would assign a value of $260 million. It is only on 13% of ATP626, so plenty of area to find more.

Saturation, permeability, depth, and width of coals all stated as good per ASX announcements if you search here and there. Just waiting on the pilots now.

This company is hoping to prove up 5400PJ eventually.

I don't have time to check shares on issue etc, but my commsec account is saying
MC = $187 million
Cash = $20 million (sorry not sure, but at least this)
Value for csg $167 million

(They have been doing quite a bit of fund raising through share issues of late and should have about $20 million cash.)

Well, if 260 of 2C is converted to 3P, I think there is certainly room to move up in the share price.

Comments welcome!

<blockquote data-quote="grace" data-source="post: 478358" data-attributes="member: 12515">Well, it was a buy the rumour, sell the fact moment for Icon last week when the maiden resource of 260PJ of 2C was announced I&#039;m afraid.Still early days for this little gasser, but it doesn&#039;t look too bad at all.It is only contingent reserves, so some big hoops still to jump, but we should get an idea about that very soon as the 3 Lydia pilots are on production test, and the forth about to go on.&nbsp; These are more important, and will progress the reserves up to 3P.&nbsp; If the 260PJ is proved up to 3P I would assign a value of $260 million.&nbsp; It is only on 13% of ATP626, so plenty of area to find more.Saturation, permeability, depth, and width of coals all stated as good per ASX announcements if you search here and there.&nbsp; Just waiting on the pilots now.This company is hoping to prove up 5400PJ eventually.I don&#039;t have time to check shares on issue etc, but my commsec account is sayingMC = $187 millionCash = $20 million (sorry not sure, but at least this)Value for csg $167 million(They have been doing quite a bit of fund raising through share issues of late and should have about $20 million cash.)Well, if 260 of 2C is converted to 3P, I think there is certainly room to move up in the share price.<img src="data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7" class="smilie smilie--sprite smilie--sprite2" alt=";)" title="Wink&nbsp; &nbsp; ;)" loading="lazy" data-shortname=";)" />Comments welcome!</blockquote>

[QUOTE="grace, post: 478358, member: 12515"] Well, it was a buy the rumour, sell the fact moment for Icon last week when the maiden resource of 260PJ of 2C was announced I'm afraid. Still early days for this little gasser, but it doesn't look too bad at all. It is only contingent reserves, so some big hoops still to jump, but we should get an idea about that very soon as the 3 Lydia pilots are on production test, and the forth about to go on. These are more important, and will progress the reserves up to 3P. [COLOR="Blue"]If the 260PJ is proved up to 3P I would assign a value of $260 million.[/COLOR] It is only on 13% of ATP626, so plenty of area to find more. Saturation, permeability, depth, and width of coals all stated as good per ASX announcements if you search here and there. Just waiting on the pilots now. This company is hoping to prove up 5400PJ eventually. I don't have time to check shares on issue etc, but my commsec account is saying MC = $187 million Cash = $20 million (sorry not sure, but at least this) Value for csg $167 million (They have been doing quite a bit of fund raising through share issues of late and should have about $20 million cash.) Well, if 260 of 2C is converted to 3P, I think there is certainly room to move up in the share price.;) Comments welcome! [/QUOTE]

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