Past year: ▲ 0%(0.60c – 0.60c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
30 Apr 2021quarterly activities report▼ BadMajor
March 2021 quarter: ATP 594 expired 16 April 2021 and is being relinquished; PEP 170 likely won't be renewed. Icon pitches a 'blue hydrogen' and carbon-separation 'Roadmap' for ATP 855 and says it is talking to potential farm-in partners. Rehab is suspended.
16 Apr 2021half year report▼ BadMajor
Reviewed half-year accounts confirm a $3.69m loss and $4.09m cash. Icon says it will relinquish ATP 594 after failing to find a partner, and the remaining four ATP 855 wells' restoration is rescheduled to three years' time. Halifax testing is delayed.
16 Mar 2021half year report▼ Bad
Unreviewed half-year to 31 December 2020: loss $3.69m (prior $1.78m), including a $3.17m restoration provision increase. Cash $4.09m, down from $5.54m at June; net assets $5.0m. Reviewed accounts are due by 16 April 2021.
10 Feb 2021drilling progress report▼ Bad
Halifax No.1 was plugged deep and Redland No.1 plugged, but the Halifax wellhead leaked a little gas, so valves went to Roma for reconditioning. The Callamurra test is delayed again, and the remaining three wells are suspended pending a new quote.
28 Jan 2021quarterly activities report▼ Bad
December 2020 quarter: Halifax No.1 had well-casing gas leaks and a complex kill, then was plugged deep and held for the Callamurra test. Costs 'blew out', so rehab of the other three wells is delayed. ATP 855 work program extended to 29 October 2022.
31 Dec 2020drilling progress report● Neutral
ATP 855 rehabilitation and testing began on 30 December 2020 after COVID-19 equipment delays. Work is expected to take up to 35 days, including the Halifax No.1 Callamurra gas test; results will be announced when known.
2 Dec 2020investor presentation● Neutral
AGM address: cash was $5.5m at 30 June 2020. Stage-2 work in ATP 855 and ATP 594 drilling stay on hold until funding; the Halifax No.1 Callamurra test was expected to start the following week. Chairman hopes to raise funds. Presentation text is truncated.
30 Nov 2020admin correction● Neutral
Icon announced a temporary new phone number, +61 407 200 200, until further notice. Registered office (Bundall) and principal place of business (Varsity Lakes) are unchanged. Administrative only.
30 Nov 2020agm notice● Neutral
Resolution 3 was withdrawn from the 2 December AGM because Howard Lu's resignation took effect 30 November 2020, as announced 15 October. Proxy and direct votes already lodged remain valid. (Inference: resolution 3 concerned him.)
26 Nov 2020agm notice● Neutral
The AGM was opened and adjourned on 26 November 2020 as planned, with no other business done. It resumes as a virtual meeting on 2 December 2020. Administrative only.
20 Nov 2020agm notice● Neutral
The 2020 AGM, set for 26 November, will be adjourned to a fully virtual meeting at 11:00am Queensland time on 2 December 2020 because of COVID-19 travel restrictions. Shareholders can watch, ask questions and vote online. Administrative only.
30 Oct 2020quarterly activities report● NeutralMajor
September 2020 quarter: ATP 855 rehabilitation and Halifax No.1 Callamurra test delayed by COVID-19, now expected from early-to-mid November 2020. Queensland extended the ATP 855 work program two years to 29 October 2022. Delays have held back finding a joint venturer.
23 Oct 2020annual report● Neutral
2020 Annual Report released, with the AGM set for 26 November 2020. The chairman highlights a gas prospect in the Halifax No.1 well's Callamurra sand and says he hopes to raise funds. Financials are not visible in the text.
15 Oct 2020director officer appointment▼ Bad
Non-executive director Howard Lu, a director since 2011, resigned effective 30 November 2020, citing outside business interests and travel restrictions. The board gets smaller after the 2019 retirements of Dr Jih and Mr Murphy.
27 Aug 2020admin correction● Neutral
Icon changed its registered office to Bundall and its principal place of business to Varsity Lakes, Queensland. Phone number is unchanged. Administrative only.
26 Aug 2020annual report● Neutral
Text not readable.
20 Aug 2020price query● Neutral
ASX queried a share price rise from $0.012 to $0.022 and higher volume since 7 August 2020. Icon said it knows of no undisclosed information and has no explanation for the trading, and confirmed Listing Rule compliance.
31 July 2020quarterly activities report▲ GoodMajor
June 2020 quarter: ATP 855 work now expected from early September 2020. Plan changed to complete and test Halifax No.1 in a shallower, normally pressured gas zone (97% methane); flows above 1 million cubic feet a day could allow suspension as a producing well. Pipeline within 2 km.
30 Apr 2020quarterly activities report● Neutral
March 2020 quarter: Icon moved to a Varsity Lakes office, saying savings are flowing through. COVID-19 may delay the ATP 855 rehabilitation. Victorian moratorium to lift in July 2021, with fracking banned and a new work program needed. Low oil prices are hampering ATP 594 funding.
20 Feb 2020half year report● Neutral
Half-year to 31 December 2019: loss $1.78m (prior year $1.88m); cash $6.97m, down from $8.83m at June. Icon repeats the ATP 855 well rehabilitation plan before a new farmout campaign, and Berella No 1 plan in ATP 594 subject to funding.
31 Jan 2020quarterly activities report▼ BadMajor
December 2019 quarter: farmout talks failed, and Icon says funding is unlikely in current markets. It signed Wellpro Services to plug and rehabilitate six ATP 855 wells in mid-2020 to offer a 'clean slate'. First ATP 594 well, Berella No1, targeted late 2020/early 2021, subject to funding.
2 Jan 2020director officer appointment● NeutralMajor
Ray James's executive service agreement as managing director expired on 31 December 2019. He stays on as a director, must retire by rotation at the next AGM, and remains committed to the company. No new managing director is named.
27 Nov 2019investor presentation▼ Bad
AGM address: no farmout yet for ATP 855 or ATP 594; cash was $8.83m at 30 June 2019. Staff were made redundant in Aug–Sep 2019, and Ray James's base salary was cut 60% from 1 September 2019. Chairman hopes to raise funds.
27 Nov 2019agm notice● Neutral
All four AGM resolutions carried on a show of hands, including the remuneration report (about 80% of proxies for), re-election of Dr Keith Hilless, the extra 10% placement capacity and renewal of proportional takeover provisions.
31 Oct 2019quarterly activities report● Neutral
September 2019 quarter: ATP 855 data shared with several parties under confidentiality, but no agreement and timing is uncertain. ATP 594 talks have not yet created new activity. PRLs now 857 km² after 50% relinquishment; Victorian permit extensions approved.
25 Oct 2019annual report▼ BadMajor
2019 Annual Report: no farmout achieved for ATP 855 or ATP 594 in FY19. Cash was $8.83m at 30 June 2019. Asset impairments of $28.2m drove a $31.3m loss, with the chairman saying resource certification is unaffected. Funding search continues.
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.
31 July 2019agm notice● Neutral
Administrative notice of 2019/20 reporting dates, including the AGM on 27 November 2019. No substantive news.
29 Apr 2019quarterly activities report● Neutral
March 2019 quarter: ATP 594 term and work program were extended two years to 16 April 2021, with two wells still to drill. ATP 855 partner talks continue with no deal. Beach applied to renew only 50% of PRLs 33-49, so eight PRLs without wells will be relinquished.
