Page 3 - Icon Energy 2014 Annual Report

HIGHLIGHTS AND RESULTS 2013/2014
ABN 61 058 454 569 ICON ENERGY LIMITED 2014 Annual Report 3
2012
2011
4,500 metres
3,552 metres
ICON ENERGY MARKET CAPITALISATION AS AT 30 JUNE 2014
2013
2014
2012
2011
$77,341,725
$86,208,409
$84,474,251
$65,702,195
ICON ENERGY METRES OF EXPLORATIONWELLS DRILLED AS AT 30 JUNE 2014
2014
2013
19,902 metres
16,700 metres
The 2013/14 financial year was a good year for Icon Energy. The Company completed the year with a net profit after tax of
$1.578 million and a cash balance of $19.6 million with no debt.
During the year the ATP 855 joint venture completed the drilling of five additional vertical wells in the Cooper Basin, compared
to one in the previous year. Significant gas shows were recorded from each of the wells which proved the continuation of the
basin centred gas play across ATP 855.
The drilling program enabled the certification of an estimated prospective gas resource across ATP 855 and an estimated
contingent resource in the area around the Halifax-1 well.
Icon Energy is looking forward to the next stage of the ATP 855 Program with the stimulation and flow testing of the target
formations in the wells which commenced in September 2014.
Directors of Icon Energy Limited (pictured from left to right) Dr Kevin Jih (Executive Director and CFO),
Mr Derek Murphy (Non-executive Director), Dr Keith Hilless (Non-executive Director), Mr Howard Lu (Non-executive Director),
Mr Stephen Barry (Chairman and Non-executive Director) and Mr Ray James (Managing Director)