ICN - Icon Energy

[grace]

Quote: Originally Posted by kennas Grace, I will leave it to you to discect this for the minute. Getting late here. MAIDEN CSG RESOURCE CERTIFICATION OVERVIEW 1. Netherland, Sewell & Associates, Inc. (NSAI) certifies 260 PJ 2C Contingent resource in Lydia 2. All three Lydia pilot wells flowing 3. Seismic Program update 4. Tenders for new October drilling program

[Donga]

Great stuff - you and Kennas make a wonderful team and can see you really do look at the fundamentals

[kennas]

This looks like quite a few PJ's!

Just GIIP of course....

Another ramp?


7th September 2009
The Manager
Company Announcements Office
Australian Securities Exchange Limited
20 Bridge Street
Sydney NSW 2000
Dear Sir

NETHERLAND, SEWELL & ASSOCIATES, INC. (NSAI) ESTIMATES SIGNIFCANT COAL SEAM GAS RESOURCES WITHIN ICON ENERGY’S ATP 626P

HIGHLIGHTS:
1. GIIP within ATP 626P estimated to be 6115 PJ.
2. ATP 626P’s current resource is 1150 Best Estimate (2C) and 1773 PJ High Estimate (3C).
3. Lydia farmin area report due.

[swm79]

why does this always happen to me?!

i was just tossing up between ICN, WCL and ECU... in the end it came down to ICN and WCL and i went with WCL... and now this!!!!

anyway, time will tell i guess

[kennas]

Quote: Originally Posted by swm79 why does this always happen to me?! i was just tossing up between ICN, WCL and ECU... in the end it came down to ICN and WCL and i went with WCL... and now this!!!! anyway, time will tell i guess

[kennas]

Bit of a resource upgrade which looks nice.

UPGRADED NSAI CERTIFIED RESOURCE ESTIMATES FOR ICON ENERGY’S LYDIA FARMIN AREA

S&P/ASX 300 Index company, Icon Energy Limited (ICN) has received consent from Netherland, Sewell & Associates, Inc. (NSAI) on the 16th of September 2009 of upgraded certified estimates of the coal seam gas resource within the Stanwell Corporation farmin area in ATP 626P.

The farmin region, containing the Lydia Pilot Program, represents 13% of the key Icon Energy tenement located in Queensland’s Surat Basin.

The resource estimates have been provided by leading international certifier, Netherland, Sewell & Associates, Inc. (NSAI).

In the Lydia farmin area, the NSAI best estimate of the 2C Contingent Gas Resource is 357 billion cubic feet (BCF).

The 2C Gas Initially In Place (GIIP) best estimate is 773 BCF.

The upgraded results compare with earlier estimates of 2C Contingent Gas Resource at 260 BCF and 2C GIIP at 564 BCF.



I love this chart!

[kennas]

Quote: Originally Posted by kennas I love this chart!

[swm79]

Quote: Originally Posted by kennas Question now is, where is support on the inevitable consolidation/correction? Need to check market cap v peers, but has probably run ahead of itself you'd think. Best guess major and minor support:

[grace]

First report on flows at Lydia at 30 000 reported today. Not all that flash in my books. They are hoping to build up to 250 000, their required commerical flow rate. That seems a long way away. Anyone been following flows starting at this level and where they ended up?

It is my thoughts, that there is a weak patch in the surat basin between condamine QLD and narrabri NSW. Hope this is not true, but these early signs are way below their blue chip peers in the industry.

Market does not appear to agree with me, so I could be completely wrong of course!

[Dukey]

Hi Grace - 30 000 does sound pretty ordinary hey. Hope for all concerned that it picks up.....


Oh for the good ole days of QGC... (from early on - post #35 in the QGC thread)....

Quote: Originally Posted by ob1kenobi QGC today came close to equaling its last high. Around 11 Feb 2005 QGC reached $0-74. From memory there was a special public share issue at that time. Today it closed $0-735. The chart has been consolidating in recent times and the price movement today is on the back of a market sensitive ASX announcement. In short QGC is almost ready to turn its gas exploration efforts into a commercial reality, ahead of contractual deadlines. The following is from the QGC website and is part of the ASX announcement released today. Monthly Status Report January 2006 17-Jan-2006 Overall Project status QGC’s Berwyndale South Project is on target to supply CS Energy with coal seam gas several months ahead of the contractual deadline of 31 July 2006. The project is on budget and very encouraging gas flows have been recorded from new development wells in recent weeks.One of the new wells (# 18) produced more than 2 million cubic feet of gas per day (mmcfd) without the need for pumping. To download entire Monthly Status Report (pdf) click here Top of page For further information go to: http://www.qgc.com.au/news/20060117-5888.cfm The chart for the year to date is attached.

[grace]

Quote: Originally Posted by Dukey Hi Grace - 30 000 does sound pretty ordinary hey. Hope for all concerned that it picks up..... Oh for the good ole days of QGC... (from early on - post #35 in the QGC thread).... I think a few companies are starting to realise why BG wanted QGC so bad, and PES too. Don't think any other mob has come close to these kind of flows.... sadly. -D

[Miner]

Folks

I do hold some ICN.
Reading your postings and seeing the performance of ICN it looks like doom sayer's stock.

Is there any positive sign to get the fire extinguished ?

[grace]

Methane content of 98% is very good, pity about the flow rates though...doesn't sound very encouraging at this point. No upgrade yet from 30 000 scfd.

[grace]

Quote: Originally Posted by grace Methane content of 98% is very good, pity about the flow rates though...doesn't sound very encouraging at this point. No upgrade yet from 30 000 scfd.

[grace]

Quote: Originally Posted by grace Well folks, this has been on pump since August 2009, which means at about 6months you'll get a good indication of whether it is commercial or not. I think this company is not informing the market very well at all. One only has to look at esg to see what good information is.

[Dukey]

I agree Grace - doesn't look all that flash to me, and I recall thinking before that ICN seem to talk up their prospects without a lot of detail to back it up. They might hit paydirt somewhere... but ...?? There are other CSGers around with much better prospects.... ESG - esp since their reserves upgrade and BOW to name 2. ... all just IMO.

[Trader Paul]

Hi folks,

ICN ..... chart seems to be primed for some news ... v-bottom will be confirmed this
week, after a small hammer and an increase in volume last Friday, just ahead of a
major and positive time cycle coming into play, from Tuesday next .....

have a great week all

paul



=====

[val1239]

ASX ANNOUNCEMENT

ICON ENERGY LIMITED SIGNS CHINA GAS DEAL FOR UP TO $A32 BILLION
Icon Energy Limited (ICN) has signed a major international agreement with Shenzhen Sino Industrial Development Company Limited (SSIDC), a subsidiary of China’s SinoGas Group.
Under a MOU signed in China today, Icon Energy and SSIDC have agreed the key terms of an exclusive gas supply deal for the delivery of 40 million tonnes of liquefied natural gas (LNG) over a 20 year period with detailed terms of the Gas Sale Agreement to be negotiated and executed by 31 August 2010.
The export value of the agreement ranges from $A23 billion to $A32 billion, depending on the price of Singapore Tapis Crude.
The deal positions Icon Energy as the exclusive supplier of approximately 2.2 trillion cubic feet (TCF) over the 20 year life of the agreement.
Icon Energy plans to meet the contractual requirements via its current tenements in South Australia and Queensland, arrangements with existing joint venture partners, new farmin agreements and the securing of additional tenements.
2
Icon Managing Director, Ray James will be available for comment on the agreement at a media conference to be held in Melbourne at 1pm on Friday 9 April 2010 at Level 37, 530 Collins Street, Melbourne.

[tech/a]

Managed to get out at 52c waiting for supply to dry up then back in again.----------------------------------

[val1239]

wow great exit at 52c.. good catch..i got out at 48c

yeah im looking to jump in again after supply deteriorates.. what price you looking at?