25 Jul 2003

ICON has successfully completed a private placing for Index Oil & Gas, a start up exploration and production (E&P) company. The placing was over subscribed

The initial funding will enable Index to complete its initial strategy to establish an early production base and to identify, evaluate and negotiate the purchase of existing oil and gas assets with upside potential.

Index is seeking to close a further round of finance in 2003 to enable it to roll out their oil and gas acquisition programme.