Questions Raised on the 2011 Remuneration Report at the 2011 A
The Board considers that no further action is required in response to th
Signed in accordance with a resolution of the Board of Directors of Icon
S Barry
R S James
Chairman
Managing Directo
28 August 2012
At the 2011 Annual General Meeting (AGM) only one question was rais
Report. A shareholder enquired why the total amount of remuneration
significantly higher than the amount shown for the 2010 financial period
figures quoted for 2010 were for a period of 6 months, due to the chan
2011 were for a full financial year. The Chairman noted at the time that
for 2011 was significantly less than that paid for 2010.
As the Company received a 'no' vote of 25% or more on the resolution
AGM it is required to include in its 2012 Remuneration Report an expla
in response to comments or questions raised at that meeting.
28 August 2012
S M Barry
Chairman
6
ICON ENERGY LIMITED
2015 Annual Report ABN 61 058 454 569
CHAIRMAN’S REVIEW
availability of equipment, monsoon weather conditions
and permitting.
In Victoria, Icon’s Gippsland tenements comprise PEP
170 which has been awarded to Icon and also PEP 172
and PEP 173, both of which are pending. That acreage
remains suspended due to the extended Moratorium
on drilling oil and gas wells in Victoria. A commission
has been conducting a review of the issues surrounding
the Moratorium. A report is to be handed down to the
Victorian Government in November 2015.
Icon must wait until the Victorian Government deliberates
on the review and decides how future exploration is
to be conducted. In the meantime Icon has prepared
several independent reports on the Gippsland onshore
area to satisfy part of the Government requirements for
permit holders’ work plans. Exploration which requires
an extensive research and development programme
will remain suspended until a clear path forward is
established.
Icon remains fully compliant with the laws and
regulations i all Petroleum exploration operatio s in
Queensland, Victoria and South Australia.
Icon would like to thank the Ic n staff specialists
who were active participants in the ATP 855
esearch programme and their expert contribution
is acknowledged. The Directors wish to thank our
management team and all staff for the work done by
them during the last year.
As to the future, Icon has the financial resources and the
determination of its management and staff to continue to
prove up the resources in its tenements, in order to add
value for our shareholders. We have faith in our vision
for the future and look forwa d t success. W h pe t
reward your loyalty.
