Icon Energy Limited Annual Report 2016

ICON ENERGY LIMITED AND ITS CONTROLLED ENTITIES FOR THE YEAR ENDED 30 JUNE 2016 Country of Date of Parent entity: Incorporation Incorporation 30 June 2016 30 June 2015 Icon Energy Limited Australia Subsidiaries of Icon Energy Limited: Jakabar Pty Ltd Australia 18 Dec 1992 100 100 Icon Drilling Pty Ltd Australia 18 Nov 1994 100 100 Icon Gas Productions Pty Ltd Australia 16 Dec 2008 100 100 Icon Oil US (LLC) USA 5 Jan 1993 100 100 NOTE 19 - CONTROLLED ENTITIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS % Owned NOTE 20 - SEGMENT INFORMATION The consolidated entity operates in the oil exploration and petroleum sector, predominantly within Queensland. The majority of its exploration activities are conducted in the Cooper/Eromanga and Surat Basins in Australia. Icon's Board of Directors reviews internal management reports on at least a monthly basis. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS for the year ended 30 June 2016 FINANCIAL REPORT 53 ICON ENERGY ANNUAL REPORT 2016