this 1000 barrel issue has kept niggling at the back of my mind. and i suspect this is the reason the partners have been weak of late. i do the sums and they add up, but the anouncements persist with the 800/1000 barrel wording.
as a result i have cashed in some of my chips, and have fired off an email to ITC and am waiting for a response.
the wildcats being drilled in the coming months will provide plenty of share price action, but the mirage issue keeps niggling.
what do you guys think? has anyone else contacted the company?
below is the email sent to ITC;
dear sirs, as a keen ITC shareholder i have been following the current drill program closely. but the past few days i have been confused with the announcements released to the market regarding the target oil production for the mirage field.
for the past few months it was 'currently 400 barrels, targeting 1000 barrels per day with the mirage development wells'.
the latest announcements have been stating that you are targeting 800 barrels per day including the 'greater mirage are ' lightning and jindivik wells if they are successful.
has something material happened to change the economics of the field or the drill program? if so why hasn't it been communicated to the market and shareholders in a clear and timely maner.
thanking you in advance,
ITC Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
