ATP 626

• The first work program has been completed prior to the 1st September 2009 deadline.
  October 2007
  

  	Drill program	Stitch	$ 1,842,906
  	Drill program	Natasha 1	$ 530,153
  	Drill program	Lydia 1	$ 510,085

• The three well drilling program has proven the existence of coal seams that have indicated prospective recoverable reserves of methane gas in the range of 0.9 to 1.25 trillion cubic feet, which is the oil equivalent of 160-225 million barrels.
• ATP 626P operates under a Level 2 Environmental Authority and continues to explore the gas reserves in the three wells, Stitch, Natasha 1 and Lydia 1.
  Having completed three (3) gas-exploration wells in ATP 626P in the Surat Basin in Queensland, Icon energy has moved to the testing of these wells. As specified in our release of 6 September 2007, there are three steps planed to evaluate the gas production potential of the identified coals.

Step 1 required drilling and conducting an initial flow test to confirm the water volume and quality of the water from the coal seams.

Step 2 requires that the coals intersected be dewatered and gas quantities then increase over time as the coals are dewatered.

Step 3 When the gas flow is established as being commercial, it is then necessary to move to a development program.

The company is now in Step 2 of its exploration program. Step 2 contains a Pilot Program of 3 phases:

Pilot Program to consist of 3 phases

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Total 17 - 24 wells and core holes