Past year: ▲ 0%(0.60c – 0.60c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
31 Oct 2012investor presentation● Neutral
Corporate presentation for 31 October 2012 restating known Halifax-1 results and plans: stimulation in Q4 2012 and a 2C resource booking expected Q1 2013. It cites market cap of about $130m and net cash of about $4.2m. No new results.
29 Oct 2012quarterly activities report● Neutral
Appendix 5B for the September 2012 quarter: cash fell $1.845m to $7.566m, with $3.419m of loan facilities drawn. Icon expects about $3.55m of outflows next quarter. The figures repeat the cash balance already cited in the quarterly report.
29 Oct 2012joint venture update● Neutral
Beach began fracture stimulation of its PEL 218 Moonta-1 well on 26 October. Stimulation equipment is planned to move to Streaky-1 and then to Halifax-1 in ATP 855P (Icon 40%). The release is about Beach's own well.
29 Oct 2012quarterly activities report● Neutral
September quarter report: Halifax-1 reached 4,267m with a gas-saturated zone over 1,300m indicated. Stimulation is expected in Q4 2012 subject to approvals. An ATP 626P feasibility study is due mid-November, and Victorian work is under review after new CSG rules. The text cites a cash balance of $7,566,000.
26 Oct 2012agm notice● Neutral
Notice of the 29 November 2012 AGM. Resolutions cover the remuneration report, a conditional spill resolution, director elections (Dr Jih, Mr Barry), incentive rights for the executive directors and a 10% placement capacity.
26 Oct 2012annual report● Neutral
Dispatch of the 2012 annual report and highlights to shareholders. The chairman's letter calls the year difficult and says Halifax 1 fracture stimulation and flow testing are expected over the next six months. It also notes North Maroon was plugged and abandoned for lack of a trap.
18 Oct 2012drilling result▲ GoodMajor
Icon says preliminary logs indicate Halifax-1 is likely gas saturated across a Permian zone over 1.3km, the thickest REM at about 460m. Stimulation is planned for late November, subject to approval; a 2C resource guidance is expected in Q1 2013. These are preliminary readings, not a booked resource.
18 Oct 2012joint venture update▲ Good
Operator Beach says early log data suggest Halifax-1 is gas saturated through the Permian, with the thickest REM (about 460m) in the Nappamerri Trough. Stimulation is planned for late November 2012; 2C contingent resource guidance is expected in Q1 2013. This is the same news as Icon's release.
16 Oct 2012drilling result▲ GoodMajor
Halifax 1 reached total depth of 4,267m, beyond the planned 4,130m. The well will be cased and suspended for fracture stimulation in Q4 2012, subject to Queensland environmental approvals. Log interpretation follows.
9 Oct 2012drilling progress report● Neutral
Drilling at Halifax 1 resumed on 9 October at 4,006m after generator repairs, which required a replacement generator to be sent to the Cooper Basin. The Patchawarra is expected deeper than estimated; no new results.
3 Oct 2012joint venture update● Neutral
Beach's September drilling report, mostly on other assets. For Halifax-1 (Beach 60%) it notes the well at 4,006m with two cores cut, gas shows, and 460m of REM as expected. Nothing new for Icon beyond earlier releases.
2 Oct 2012drilling progress report▲ Good
Halifax 1 is at 4,006m. The Patchawarra came in about 100m deeper than expected, so total depth will exceed the planned 4,130m. Icon reports significant mudlog gas shows, which it calls encouraging; final log interpretation is still needed.
28 Sept 2012other● Neutral
Administrative notice of reporting dates: September quarterly by 31 October, AGM on 29 November 2012, half-year results 20 February 2013. No new operational information.
25 Sept 2012drilling progress report● Neutral
Halifax 1 is at 3,885m after a second core, 25m in the Patchawarra. The REM came in as expected at about 460m thick, versus 393m at Encounter 1. Core evaluation will take at least two months; fracture stimulation is planned for Q4 2012.
18 Sept 2012drilling progress report● Neutral
Halifax 1 is at 3,860m and drilling in the Patchawarra Formation. A 24-metre core was cut in the Epsilon Formation on 15 September, and evaluation is ongoing; no results from it yet.
11 Sept 2012drilling progress report● Neutral
Halifax 1 has drilled to 3,326m, 348m since the last update, and has entered the Roseneath Formation. The first core is planned in the Epsilon Formation; planned total depth remains 4,130m. No new results.
4 Sept 2012well test result▲ Good
Halifax 1 reached 2,878m. A drill stem test at 2,663–2,682m in the Nappamerri Formation flowed dry gas at about 0.2 Mmscf/d over four hours, with no stable rate. Icon calls it an unexpected bonus, about 530m above the primary REM target.
28 Aug 2012annual report● Neutral
Cover letter lodging the full-year accounts to 30 June 2012. The visible directors' report shows a net loss after tax of $4,618,666 (prior year $6,000,512) and no dividend. It also notes the revised Halifax 1 farm-in and 4 August spud.
23 Aug 2012drilling progress report● Neutral
Halifax 1 in ATP 855P has drilled to 2,611m in the Nappamerri Formation, been wireline logged, and will next have 9⅝ inch casing run and cemented. Icon repeats the 300 TCF gas-in-place figure for neighbouring PEL 218; no gas results yet.
21 Aug 2012investor presentation● Neutral
Notice that the Managing Director gave a media interview on Cooper Basin shale gas, including a Halifax 1 update, available as an online audio broadcast. The announcement itself contains no new results.
14 Aug 2012drilling progress report● Neutral
Halifax 1 is drilling at 1,605m in the Wallumbilla Formation after cementing casing at 847m. No gas or reservoir results yet; the release repeats the 300 TCF gas-in-place estimate for neighbouring PEL 218.
6 Aug 2012drilling spud▲ GoodMajor
Halifax 1 was spudded on 4 August in ATP 855P, targeting 4,130m with total depth expected in about 55 days. It is Icon's first shale gas well, 12km from Beach's Encounter 1; Beach funds most of the cost under the farm-in.
1 Aug 2012drilling scheduled● Neutral
Halifax 1 in ATP 855P (Beach 60%, Icon 40%) moved from a 1 August spud to 2 August 2012, with a planned depth of 4,130m. A further update will follow the spud.
30 July 2012quarterly activities report● Neutral
June quarter: a revised ATP 855P farm-in was signed 13 July for a vertical Halifax 1 (about 4,000m), spud early August. Eolus 1 and Windom 1 drilling is complete, and PEP 170 approvals are pending. Cash $9.411m; 469,301,394 shares.
16 July 2012farm in farm out agreement▲ Good
Icon's release of the same Beach announcement: Halifax-1, a vertical well, is brought forward in ATP 855P, using the Ensign 916 rig after Streaky-1. Farm-in terms are unchanged: Beach funds $16m less a $1.75m Icon contribution.
16 July 2012farm in farm out agreement▲ GoodMajor
Beach and Icon agreed to drill a vertical exploration well, Halifax-1, in ATP 855P from July 2012 instead of a horizontal well planned for late September. Beach funds the first $16m less Icon's $1.75m, to take 60% of the permit.
4 June 2012drilling result● NeutralMajor
Eolus 1 reached 1,200m with 10.4m of net coal and four drill stem tests. Icon calls seam thicknesses encouraging, and the well is cased and suspended pending study of completion methods, possibly horizontal drilling. This completes the two-well ATP 626P campaign.
31 May 2012investor presentation● Neutral
May 2012 investor presentation: market cap about $99m at 21c, 469,301,394 shares, and the objective of booking 2 TCF of 2P reserves. It repeats the Shantou and Stanwell agreements. No new results visible in the text.
22 May 2012drilling spud● Neutral
Icon spudded Eolus 1 in ATP 626P, to be drilled over 14 days to 1,200m. It is the second of two coal seam gas wells drilled with Goondi (a Stanwell subsidiary), which has earned an up-front 50% farm-in interest in the wells.
18 May 2012drilling result▼ BadMajor
Windom 1 reached 1,200m and logs show 11.8m of net coal, better than expected, but four drill stem tests indicated low permeability. The well will be plugged and abandoned; the rig moves to Eolus 1.
