Past year: ▲ 0%(0.60c – 0.60c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
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.
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.
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.
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.
27 Mar 2015farm in farm out completion▼ BadMajor
Chevron will not join Stage 2 in ATP 855, so Beach moves to 64.9% and Icon stays at 35.1%. Chevron cited strategic fit. Icon expects modest spending to June, a likely 3D seismic survey in Stage 2, and had $20.9m cash at 31 Dec.
27 Mar 2015resource reserve update▲ GoodMajor
DeGolyer and MacNaughton lifted ATP 855 gross contingent resources to 1C 343 / 2C 1,572 / 3C 5,841 Bcf, from 2C 629 Bcf. Icon's 35.1% share is about 552 Bcf 2C. This is a big step toward the 2 Tcf 2P goal, though still contingent.
3 Feb 2015drilling progress report● Neutral
Geoffrey-1 has been shut in for pressure build-up after reaching a peak of 1.1 million cubic feet a day. Icon says the joint venture has all the data it needs, and the managing director says shutting in kept the program within its exploration budget.
13 Nov 2014drilling progress report● Neutral
Redland-1 stimulation is complete. Equipment has moved to Geoffrey-1, where stimulation of the Patchawarra and Epsilon formations started 12 November. All four wells are now stimulated or in progress, with stabilised flow rates still to be reported.
29 Oct 2014drilling progress report● Neutral
Etty-1 stimulation is complete, with flow testing over the coming weeks. Stimulation of Redland-1 began 28 October. No flow rates reported yet.
13 Oct 2014drilling progress report● Neutral
Stimulation of Hervey-1 is complete, with flow testing to follow and a flow rate announced once stabilised. Equipment moved to Etty-1, where stimulation started 11 October. No flow results yet.
16 Sept 2014drilling progress report● Neutral
Hydraulic stimulation began at Hervey-1, with five Upper Patchawarra zones to be fracture stimulated and then flow tested. This is the first well fracture stimulated in the four-well campaign; no results yet.
11 Sept 2014drilling progress report● Neutral
ATP 855 stimulation operations began with a wellbore cleanout of Geoffrey-1 by Condor, ahead of testing one Lower Patchawarra zone. Hervey-1 stimulation is due in about a week; the whole four-well program is expected to take about six weeks.
30 July 2014drilling scheduled▲ Good
The ATP 855 joint venture agreed the stimulation and extended flow testing program on Geoffrey-1, Redland-1, Hervey-1 and Etty-1, starting early September 2014 and taking months. Condor's equipment arrived in Melbourne on 26 July. This firms up the Q3 timing flagged earlier.
19 June 2014resource reserve update▲ GoodMajor
An independent DeGolyer & MacNaughton report gives ATP 855 a best-estimate 28.49 Tcf gross unconventional prospective resource (P90 21.48, P10 37.74), Icon's share 10 Tcf (35.1%). These are undiscovered volumes, not contingent resources; upgrading needs successful stimulation and flow testing of four wells.
2 Apr 2014drilling progress report● Neutral
Beach's March report: Etty-1 reached 3,807 m, logs indicate a gas-saturated target interval, and the six-well ATP 855 program is complete. The rest covers Beach's other permits, including an oil discovery at Stunsail-1 (not Icon's).
2 Apr 2014drilling result▲ Good
Icon confirms Etty-1 reached 3,807 m, with preliminary log interpretation indicating a gas-saturated target interval. It is the sixth and final well of this campaign. Stimulation of the four wells is still expected in Q3 2014, subject to JV approval.
25 Mar 2014drilling result▲ Good
Etty-1, the sixth ATP 855 well, reached 3,807 m on 23 March in the top of the Patchawarra, with gas shows throughout the Permian. It will be cased and suspended; stimulation is expected from Q3 2014.
5 Mar 2014drilling progress report● Neutral
Beach's February report: Etty-1, spudded 9 February, is running intermediate casing after reaching 2,665 m, and will be cased and suspended for stimulation. The rest covers Beach's other permits. Nothing new for Icon.
5 Mar 2014drilling progress report● Neutral
Etty-1 is at 2,665 m in the Nappamerri Group, running intermediate casing to about 2,660 m. It is still aiming for 3,800 m. No gas or test results yet.
11 Feb 2014drilling spud● NeutralMajor
Etty-1, the sixth ATP 855 well, spudded 9 February 2014. It targets 3,800 m, 8.6 km east of Halifax-1, for basin-centred gas in the Permian. Stimulation is planned from Q3 2014, subject to joint venture approval.
5 Feb 2014drilling progress report● Neutral
Beach's January report: Redland-1 was cased and suspended after reaching 3,804 m, and the rig is moving to Etty-1, 8.6 km east of Halifax-1. Stimulation is targeted for Q3 2014. The rest covers Beach's other permits.
3 Feb 2014drilling result▲ GoodMajor
A Notice of Petroleum Discovery was lodged for Redland-1. Wireline logs indicate the target interval is gas saturated, with mud gas readings up to 800 units. It follows the Halifax-1 and Keppel-1 notices. Stimulation is planned for Q3 2014.
24 Jan 2014drilling result▲ GoodMajor
Redland-1 reached 3,804 m on 23 January 2014 with significant gas shows in the Toolachee and Daralingie. It will be cased and suspended. Stimulation now slips to Q3 2014 (Q1 was proposed in December, Q2 on 20 January). Etty-1, the sixth well, is next.
20 Jan 2014drilling progress report● Neutral
Redland-1 is drilling at 3,700 m, near its planned 3,800 m. Etty-1 is next. A four-well stimulation campaign (Geoffrey-1, Redland-1, Etty-1, Hervey-1) is now set for Q2 2014, later than the Q1 2014 proposed in December.
10 Jan 2014drilling progress report● Neutral
Redland-1 is at 2,883 m, with 9-5/8" casing cemented at 2,880 m. The rig is preparing to drill on towards 3,800 m. No gas or test results yet.
8 Jan 2014drilling progress report● Neutral
Beach's December report: Geoffrey-1 reached 4,124 m on 9 December with high gas levels in the Permian. Redland-1, spudded 15 December, is cementing intermediate casing. The rest covers Beach's other permits. Nothing new for Icon.
17 Dec 2013drilling spud● NeutralMajor
Redland-1, the fifth ATP 855 well, spudded 15 December 2013. It targets 3,800 m, 22 km north-west of Geoffrey-1, aiming at the Toolachee and Daralingie Formations. Stimulation is still proposed to start in Q1 2014, beginning with Hervey-1.
13 Dec 2013drilling result▲ GoodMajor
Geoffrey-1 reached 4,125 m on 9 December 2013, with good gas shows throughout the Permian section. It will be cased and suspended for stimulation in Q1 2014. Redland-1 is next, with a sixth well subject to joint venture approval.
4 Dec 2013drilling progress report● Neutral
Beach's November report: Geoffrey-1 in ATP 855 is drilling ahead at 3,979 m, planned to about 4,250 m. Most of the report covers Beach's other permits, including PEL 218 horizontal well Boston-3 reaching total depth. No new Icon-specific result.
6 Nov 2013drilling progress report● Neutral
Beach's October report: Geoffrey-1 in ATP 855 is at the intermediate casing point of 2,612 m. The rest covers Beach's other permits, with no new Icon-specific result.
