Past year: ▲ 0%(0.60c – 0.60c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
2 Sept 2019director officer appointment● NeutralMajor
Dr Kevin Jih retired as director, CFO and Company Secretary effective 31 August 2019 after ten years. Natalia Fraser, with the company since 2007, becomes CFO and Company Secretary, described as succession planning.
2 Sept 2019director officer appointment● Neutral
Non-executive director Derek Murphy retired effective 31 August 2019 after ten and a half years. No replacement is mentioned in the text. Board shrinks alongside Dr Jih's retirement.
19 Feb 2019half year report● Neutral
Half-year to 31 December 2018: loss $1.88m (prior year $2.29m); cash $10.28m, down from $12.27m at June. ATP 594 extension to April 2021 applied for on 11 February 2019, covering $6.45m of commitments. Partner talks continue.
21 Nov 2018investor presentation● Neutral
AGM address: chairman says funding remains difficult despite a better oil price, with talks with several potential farminees but no formal negotiations yet. Cash was $12.26m at 30 June 2018. Directors' fee cut and no staff bonuses noted. No new deals.
12 Oct 2018other▲ Good
The Queensland Supreme Court dismissed the Baldwin claims against Icon and ordered the plaintiffs to pay Icon's costs. Icon says it spent nearly 10 years dealing with Mr Baldwin's issues. The text gives no dollar amounts. Ends a long-running legal dispute in Icon's favour.
11 Oct 2018annual report● Neutral
Release of the 2018 Annual Report, with the chairman's letter restating that funding for ATP 855 and ATP 594 is still sought. It reports cash of $12.26m at 30 June 2018 and the head office sale at $7.8m including GST. No new results or deals.
12 Sept 2018investor presentation● Neutral
Presentation to the RIU Good Oil Conference in Perth on 13 September 2018, repeating known facts on ATP 855 and ATP 594: 1,572 Bcf 2C resource, Halifax-1 flow of 4.5 MMcf/d, and an active search for a partner.
20 Aug 2018annual report● Neutral
Full-year accounts to 30 June 2018. The directors' report repeats known points: several companies have examined the ATP 594 data room, ATP 855 funding is still sought, and Victorian permits remain under the drilling moratorium. Financial figures are truncated.
16 Aug 2018admin correction● Neutral
Amended version of the key dates notice, correcting the AGM venue to Home Of The Arts and fixing typos. Dates are unchanged. No substantive news.
29 June 2018material agreement termination▼ BadMajor
The 2011 LNG Sales Agreement with Shantou SinoEnergy will terminate on 30 June 2018, as neither party will meet the conditions precedent in time. Icon would have needed 2 Tcf of 2P reserves. This ends the only offtake arrangement for ATP 855 gas.
13 Mar 2018asset acquisition disposition● Neutral
Icon announced that settlement of the sale of its Queensland corporate office was completed on 12 March 2018. The sale had been announced on 19 February 2018.
22 Feb 2018asset acquisition disposition▲ GoodMajor
Icon sold its Queensland corporate office for $7.1m, settling 12 March 2018, and will lease it back for 3 years with a 3-year extension option. Proceeds fund exploration and working capital, lifting cash to about $13.5m by end-March 2018, from $7.13m at December.
20 Feb 2018half year report● Neutral
Half-year to 31 December 2017. Operations text repeats known points: ATP 594 farm-in talks and the ATP 855 partner search. Non-executive directors cut their fees by 20% from 1 January 2018, citing the disappointingly low share price. Financial figures are truncated.
22 Nov 2017investor presentation● Neutral
AGM address and presentation. The chairman says Icon holds 100% of ATP 594 and ATP 855, still needs new funding, and is optimistic about raising capital as outlook has improved. Cash was $9.65m at 30 June 2017. No new results or deals announced.
20 Oct 2017annual report● Neutral
2017 Annual Report and corporate governance statement released, with the AGM on 22 November 2017. The chairman says talks with funding partners for ATP 855 continue but no agreement has been reached.
18 Oct 2017other● Neutral
Computershare, Icon's share registry, notifies a Brisbane office move to 200 Mary Street from 1 November 2017. Administrative only, with no effect on the company.
28 Aug 2017regulatory community update▲ GoodMajor
Queensland declared eight Potential Commercial Areas (PCA 172-179) over all of ATP 855 on 25 August 2017, for 15 years. This secures Icon's 100% title to the Stage 1 gas discovery. Seismic and studies are needed before Stage 2 drilling.
22 Aug 2017annual report● Neutral
Full-year accounts to 30 June 2017. The directors' report repeats known points: Icon took over ATP 855 on 31 March 2017, assumed $5.23m rehabilitation liability, and Harrier seismic is being evaluated before farm-in talks. Financial figures are truncated.
27 Apr 2017regulatory community update▲ GoodMajor
Queensland's mines department approved transfer of ATP 855 to Icon, now 100% owner and operator. Icon lodged eight Potential Commercial Area applications on 20 April and has agents overseas seeking a funding partner. Resource figures are unchanged (1.57 Tcf 2C).
31 Mar 2017asset acquisition disposition● NeutralMajor
Beach Energy withdraws from ATP 855 effective 31 March 2017, so Icon takes 100% and operatorship (previously 35.1%). Icon will seek a new partner to fund Stage 2. This reverses the November 2016 'care and maintenance' position.
15 Mar 2017drilling progress report▲ GoodMajor
Acquisition of the 293 km2 Harrier 3D seismic survey in ATP 594 (Icon 100%) is complete, the first seismic there in almost 20 years. Velseis in Brisbane is processing the data, which will guide any drilling.
21 Feb 2017half year report● Neutral
Half-year report to 31 December 2016. Mostly repeats known points: Harrier seismic acquisition began 14 February 2017 and ATP 855 Stage 1 results stand. Financial statements are truncated, so no new figures are available.
19 Dec 2016director officer appointment● Neutral
Managing Director Ray James's contract is renewed for three years to 31 December 2019, with base salary of $528,222 a year plus super. Either side can end it on notice: 12 months from the company, six from him.
23 Nov 2016investor presentation▼ BadMajor
AGM address: Terrex has begun the ATP 594 seismic survey. The chairman says Beach, the ATP 855 operator, does not wish to restart work in the short to medium term, leaving Icon's interest on care and maintenance. ATP 626 will be relinquished in 2017.
3 Nov 2016drilling scheduled▲ GoodMajor
Icon will acquire 293 km2 of Harrier 3D seismic in the northern block of ATP 594 (100%, operator), using contractor Terrex, starting late November 2016. This ends the long delay and is meant to define prospects for a later drilling program.
21 Oct 2016annual report● Neutral
2016 Annual Report and AGM notice for 23 November 2016. The chairman says Icon ended the year with a healthy cash balance and no borrowings, and plans ATP 594 seismic this year. The Queensland tender results are still not announced.
18 Oct 2016price query● Neutral
Responding to an ASX query after the share price rose from $0.027 to an intraday high of $0.033 on higher volume, Icon said it knows of no unannounced information, has no explanation for the move, and is complying with Listing Rule 3.1.
23 Aug 2016annual report● Neutral
Full-year accounts to 30 June 2016. The directors' report repeats known points, and the company impaired the three suspended ATP 626 wells, to be plugged and rehabilitated in the first quarter of FY17. ATP 549 West is now operated by Beach after its merger with Drillsearch. Financial figures are truncated.
28 Apr 2016price query● Neutral
Responding to an ASX query after the share price rose from $0.031 to an intraday high of $0.039 (ASX letter says $0.037) on higher volume, Icon said it knows of no unannounced information and has no explanation for the move.
23 Feb 2016half year report● Neutral
Half-year report to 31 December 2015. The visible text repeats known facts: ATP 594 3D seismic likely Q2 2016, ATP 855 in management status while Beach seeks a new partner, and six ATP 855 discoveries. Financial statements are truncated, so no new figures.
