Past year: ▲ 0%(0.60c – 0.60c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
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.
31 Jan 2019quarterly activities report● Neutral
December 2018 quarter: ATP 855 and ATP 594 partner talks continue with no agreement, and ATP 855 wells remain suspended and stable. Visible figures show a quarterly operating outflow of about $1m. No new substance.
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.
21 Nov 2018agm notice● Neutral
All four AGM resolutions carried, including the remuneration report (about 87% of proxies for), re-election of Stephen Barry and Dr Kevin Jih, and renewed 10% extra placement capacity. Routine meeting outcome.
31 Oct 2018quarterly activities report● Neutral
September 2018 quarter: cash $11.2m. Icon says it is in talks with several companies interested in ATP 855, and still seeks ATP 594 farm-in partners, with no agreements. PEP 170 suspension and extensions approved 10 October 2018. Baldwin case win noted.
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 2018agm notice● Neutral
Administrative notice of 2018/19 reporting dates, including full-year results by 31 August 2018 and the AGM on 21 November 2018. No substantive news.
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.
30 Apr 2018quarterly activities report● Neutral
March 2018 quarter: ATP 855 funding search remains the main focus, with wells still suspended and no partner named. ATP 594 farm-in talks continue with several parties. The office sale added about $7.3m of proceeds; the quarter's operating cash outflow was $0.49m.
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.
30 Jan 2018quarterly activities report● Neutral
December 2017 quarter: cash $7.13m (from $8.49m), 597,556,938 shares. ATP 594 farm-in talks and the ATP 855 partner search continue with no deal. ATP 855 Stage 2 remains in planning and awaits funding.
30 Jan 2018quarterly activities report● Neutral
Amended re-release of the December 2017 quarterly report; the visible text matches the original (cash $7.13m), with only a corrected heading on the financial position section. No new substance.
22 Nov 2017agm notice● Neutral
AGM voting results: all four resolutions passed, including the remuneration report (86.37% for), re-election of Howard Lu and Derek Murphy, and the extra 10% placement capacity (89.92% for). No significant opposition.
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.
30 Oct 2017quarterly activities report● Neutral
September 2017 quarter: cash $8.49m (from $9.65m), 597,556,938 shares. ATP 594 Harrier seismic interpretation has identified drilling locations in the northern block, and farm-in talks continue. ATP 855 funding partner search continues, with no agreement reported.
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.
31 July 2017quarterly activities report● Neutral
June 2017 quarter: cash $9.65m. Icon took on ATP 855 rehabilitation liability of $5.23m and joint venture assets of $4.89m, and DNRM approved its work program. Harrier seismic cost $2.7m and leads are identified. Farm-in talks will follow interpretation.
3 July 2017agm notice● Neutral
Administrative notice of Icon's 2017/18 reporting dates, including full-year results by 31 August 2017 and the AGM on 22 November 2017. No substantive news.
28 Apr 2017quarterly activities report● Neutral
March 2017 quarter: cash $11.1m, 597,556,938 shares. Harrier seismic finished 23 February, with early processing showing several drilling leads. Icon now holds 100% of ATP 855 and has overseas agents seeking a partner. The buy-back closed at 21.16m shares for $1.12m.
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.
