Club Mulgoa

Monday, September 10, 2012

ICN

I remember this stock very well.  I sold St George Bank before it was taken over.  I made a profit but I could have made a larger profit if I had delayed the selling.  Using that cash, I bought ICN and for a long time, I was making a large paper profit until after late 2009.  Yes, more than the WBC takeover of the smaller bank then.  From 2010 till now, it has been a miserable holding but patience will be a virtue here.

http://www.proactiveinvestors.com.au/companies/news/33306/icon-energy-and-beach-energy-reach-first-primary-target-at-cooper-basin-unconventional-gas-well-33306.html

When you look at the article above, you will realize that if all the hype generated by the stock is true, then this company should be worth a lot more.  In the meantime, it could go anywhere.   But if decent gas is found to confirm what it has been alleging, then this stock will bloom... or rather explode.

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