Page 4 - Icon Energy 2014 Annual Report

CHAIRMAN’S AND MANAGING DIRECTOR’S REVIEW
4 ICON ENERGY LIMITED 2014 Annual Report ABN 61 058 454 569
Pictured (from left to right) Mr Ray James (Managing Director) and Mr Stephen Barry (Chairman and Non-executive Director)
Dear shareholder,
The 2013/14 financial year was a successful one for Icon Energy with good progress being made in our core work programs.
The ATP 855 joint venture, of which Icon holds a 35.1% interest, performed exceptionally well with the completion of
the drilling of five vertical wells in the Cooper Basin during the year, compared to one in the previous year, satisfactorily
completing the JV’s work permit obligations. We were encouraged by the fact that all of the wells drilled showed significant
gas shows and enabled the JV to book a maiden contingent resources booking around the Halifax-1 well in August 2013, and a
recoverable prospective gas resources booking across ATP 855 in June, 2014.