Past year: ▲ 0%(0.60c – 0.60c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
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.
25 Jan 2017quarterly activities report● Neutral
December 2016 quarter: cash $14.6m, 597,556,938 shares. ATP 594 Harrier seismic line clearing is done, with acquisition due early February 2017. ATP 626 wells are plugged, so the permit can be relinquished in H1 2017. The Queensland tender bid was unsuccessful, resolving that open question.
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 2016agm notice● Neutral
All eight resolutions at the 23 November 2016 AGM passed on a show of hands, including the remuneration report (93.10% for), Dr Hilless's re-election, executive incentive participation and the extra 10% share issue capacity (95.39% for).
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.
28 Oct 2016quarterly activities report● Neutral
September 2016 quarter: cash $15.86m, 597,556,938 shares. ATP 594 Harrier 3D seismic is now expected to start in November with acquisition in December 2016. ATP 626 wells are being plugged to allow relinquishment. Victoria announced a permanent unconventional gas ban and extended the conventional moratorium to 30 June 2020.
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.
29 July 2016quarterly activities report● Neutral
June 2016 quarter: cash $16.95m, 597,556,938 shares. The tender result is still awaited and the ATP 855 JV is preparing Potential Commercial Area documentation. ATP 626's three suspended wells will be rehabilitated and impaired. Buy-back totals 21.16m shares for $1.12m.
29 Apr 2016quarterly activities report● Neutral
March 2016 quarter: cash $17.89m, 601,443,520 shares. ATP 594 seismic is delayed, partly by landowner agreements and partly by the still-undecided Queensland tender. ATP 855 stays on minimum maintenance with Stage 2 unagreed. Buy-back reached 17.27m shares for $1.005m.
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.
29 Jan 2016quarterly activities report● Neutral
December 2015 quarter: cash $18.68m, 602,324,481 shares, 6,250 shareholders. ATP 594 3D seismic now proposed for Q2 2016. ATP 855 is on a minimum maintenance program with Stage 2 not yet agreed, and the Queensland tender result is awaited.
25 Nov 2015agm notice● Neutral
All seven AGM resolutions passed on a show of hands, including the remuneration report (95.87% for), re-election of Stephen Barry and Dr Jih, and 2016 short and long term incentive participation for Ray James and Dr Jih.
24 Nov 2015investor presentation● Neutral
AGM address: cash was $19.6m on 19 November, above the $18.6m market cap. Beach needs a new farm-in partner before ATP 855 Stage 2, and Icon tendered for two blocks north of the Jackson field, results likely January 2016.
30 Oct 2015quarterly activities report▼ Bad
September 2015 quarter: cash $12.37m, 602,510,204 shares. ATP 855 is in management status while Beach seeks a new partner; ATP 594 seismic slips to Q1/Q2 2016. Buy-back total reached 16.2m shares for $971,719.
21 Oct 2015annual report● Neutral
2015 Annual Report and AGM notice for 25 November. The chairman calls it a very frustrating year, blames the early-2015 oil price collapse for Chevron's ATP 855 exit and the share price fall, and cites $13.75m cash at year end.
25 Aug 2015annual report● Neutral
Cover note and full-year statutory accounts for the year to 30 June 2015. The text provided is a directors' report repeating known ATP 594 and ATP 855 facts, with the financial statements truncated and no new figures.
25 Aug 2015remuneration report● Neutral
Summary of key terms of Dr Jih's renewed five-year contract from 11 August 2015: base salary $399,500 a year plus superannuation, with incentives of up to 40% each for short and long term. No incentive awards for FY15.
17 Aug 2015agm notice▲ Good
Shareholders voted down both resolutions on benefits for former Company Secretary Ross Mallett, whose position was abolished in the May restructure. Resolution 1 got 21.71% in favour on the poll; Resolution 2 got 1.04%.
13 Aug 2015director officer appointment● Neutral
Dr Kevin Jih's executive services agreement as CFO, Company Secretary and Executive Director was renewed for five years, to August 2020. This continues his expanded role from the May 2015 restructure.
31 July 2015quarterly activities report● Neutral
June 2015 quarter: cash $13.75m, down from $18.81m at March, with 607,026,150 shares and 6,436 shareholders. ATP 594 3D seismic is expected in the second half of 2015 with a well in 2016; the ATP 855 Stage 2 work program is still being prepared.
26 June 2015material agreement● NeutralMajor
Icon and Shantou Sino Energy extended the deadline for conditions precedent on the 40 Mt (2 Mtpa for 20 years) LNG Sales Agreement from 30 June 2015 to 30 June 2018. Icon must still certify 2 Tcf of 2P reserves, and resource estimates are unchanged.
15 May 2015regulatory community update▲ GoodMajor
ATP 594 (Icon 100%, operator) was renewed by Queensland with a grant date of 17 April 2015. Icon plans a 200 km2 3D seismic survey and two wells to about 1,600 m, and will start talks with potential joint venture partners. Cash was $18.1m, no debt.
13 May 2015director officer appointment● Neutral
Icon abolished three positions in an internal restructure to reduce corporate administration costs. Company Secretary Ross Mallett leaves and CFO Dr Kevin Jih takes over the role.
30 Apr 2015quarterly activities report● Neutral
March 2015 quarter: cash $18.81m, 6,789 shareholders. Icon began a buy-back of up to 10% (61.9m shares) on 26 Feb and had cancelled 3,093,327 shares by 31 March. Otherwise repeats the Chevron exit and the resource upgrade.
17 Apr 2015investor presentation● Neutral
Conference presentation repeating known ATP 855 facts. It shows a share price of $0.06 on 15 April 2015 (market cap $36.93m), 615,624,176 shares and $20.9m cash at 31 December with no debt.
