ENVIRONMENT

Eco-Integrity: a Genuine Environmental Focus

Environmental best practices are a priority we take very seriously indeed at Icon Energy. It is a key ingredient for being a good corporate citizen, and moreover, it is the right way to do business.

The environment is afforded the highest of priorities, coupled with the safety and wellbeing of our people and the community. Icon Energy policy is that no business purpose shall be given priority over health, safety and the environment. For practical purposes our environmental priority is a reflection of the values of the communities in which we coexist. We don't see ourselves as being separate from the wider community with whom we share our values, we're a part of it. Environmental ethics, or ‘Eco-integrity', is and will remain a core and guiding priority at Icon Energy, in everything we do.

A good example is the seismic program currently being conducted in ATP849P - it's green in more ways than one. These little green trucks (pictured) have been designed to function in a manner which optimises the seismic process to minimise the environmental harm. When Icon Energy conducted Australia's first carbon-neutral seismic program back in 2009, we saw a great opportunity to utilise green technology. The upcoming ATP 849P Seismic Programme also encompasses a detailed program route so as to create only the most negligible of impacts.

The drilling programme conducted in the ATP 626PP in the Goondiwindi region earlier this year is now largely complete. Icon Energy are proud of the landholder relationships we have developed and the quality of the rehabilitation works conducted on each site.

Environmentally, water is a major priority in Australia, but it's also obviously vital to all our farmers whether their focus is livestock or crops. As such, we're exploring all options for the beneficial use of water and how the extraction of this precious natural resource can benefit us all the most. Icon Energy also completed a submission in June 2011 to support of the Cooper Creek Wild Rivers declaration, which sought to address both regional economic growth and the environmental values that this untouched river system can provide.

Icon Energy has engaged Coffey Environments on Environmental Management Planning for the Company's Victorian operations within our newest exploration tenement, PEP170 in the Gippsland district. Regional environmental issues are often best addressed by local expertise. Accordingly, the considered choice of our operations team was that the Victorian-based environmental consultants were best placed for the applicable local knowledge and expertise for the task. Coffey were both engaged and commenced well ahead of there being any operational presence in the area. As such, the prevailing environmental conditions and issues were able to be identified and assessed by experts familiar with the issues relevant to the area's indigenous flora, fauna, geology and other environmentally relevant issues. It is this nature of practicality the Icon Energy team seeks to implement in such circumstances, particularly those for which such a high priority is identified and attributed.

At Icon Energy we really do care about the environmental footprint we create, and we aim to always tread lightly. With consistency and vigilance we can and will continue to aim very high to satisfy the highest environmental standards. Environmental ethics, or ‘Eco-integrity', is and will remain a core and guiding priority at Icon Energy, in everything we do.