LANDOWNERS

Our Commitment – Good Relations

With increased exploration and production in the petroleum industry, the Queensland Government introduced new land access laws that came into effect in October 2010.

Icon Energy seeks to build good working relationships with all landholders in areas and communities in which it operates.

Icon Energy's landholder consultation process is as follows:

i. Establish initial contact and consult with the landholder regarding planned seismic lines and exploration wells;

ii. Meet with the landholder to discuss any issues or concerns;

iii. Reach an agreement with the landholder on various matters relating to Icon Energy's operations and their land which includes:

  a. Entry notices and compensation

  b. Proposed roads

  c. Rehabilitation

  d. Cultural heritage clearance

  e. Confirming location of seismic lines and exploration wells

During the 2010-2011 drilling campaign Icon Energy operated around the Goondiwindi area in the Surat Basin. Icon Energy is pleased to report that conduct and compensation agreement were reached with all landholders.

In May 2011, as part of its landholder relationship building initiatives and to address concerns surrounding the negative impacts of CSG from the media, Icon Energy along with its joint venture partner held a luncheon for all landholders where Icon Energy had operations. The main purpose of this luncheon was to give landholders the opportunity to meet Icon Energy and Stanwell operational management to discuss issues that concern landholders in the Goondiwindi region.

Icon Energy is currently undergoing the landholder process with various landholders in the tenement ATP849P located in the Surat Basin for its proposed seismic acquisition activities.