7 Mar 2006drilling progress report● Neutral
AMI-1 now at 4,128 feet; progress slowed by a broken rig power swivel, since replaced. Target depth is 9,100 feet. Icon remains carried at 19%.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
7 Mar 2006drilling progress report● Neutral
Horizon Oil's update repeats AMI-1 at 4,128 feet, with delays from rig equipment replacement. About 17 more days to total depth are expected. No new results.
28 Feb 2006drilling progress report● Neutral
Icon's weekly update: AMI-1 drilling at 2,670 feet, with casing cemented at 2,355 feet. It is the first of three wells; Icon holds 19%.
28 Feb 2006drilling progress report● Neutral
Partner Horizon Oil reports the AMI-1 well drilling at 2,670 feet with casing set at 2,355 feet. It cites prospect potential of 1.8 million barrels. Horizon holds 14% in this well; Icon's subsidiary is a partner.
20 Feb 2006drilling spud▲ GoodMajor
Australian Mineral Interests No.1 began drilling on 17 February 2006 at Bayou Choctaw, Louisiana, targeting Frio sands to 9,100 feet over about three weeks. Icon holds 19% and is carried; three back-to-back wells are planned.
6 Feb 2006regulatory community update▲ GoodMajor
A Louisiana court dismissed with prejudice the environmental damage claim against Icon and its partners over the Wilberts Lease, ending the litigation. The first Bayou Choctaw well is about to start.