pc43, page-2

Hi ggjj

I glad you enjoyed my posting on the CVN thread, what a great result from Ted and the boys.

Now ITC, well as you have seen I like ITC, on many levels.

To summarise them again

1, No country risk

2, Proven operator

3, Eddy Smith Director of ITC has supported the company with his own cash and bt almost 20% of the company, he has ownership and is there to make the company grow in value.

4, Western oil fairway now proven and using 3D seismic allows for the highly productive channel sands to be imaged and drilled. I expect many 200+ bopd wells to be drill in the next 2 years (hopefully 20 to 30 wells).

5, Corporate play, yep ITC is on the radar of several cashed up companies.

6, Downside risk is VPE as operator and a significant fall in oil price.

In my own opinion I like ITC for all of the above and hope we will get a similar run up as what occurred in CVN.

Hopefully with the next 18 months ITC will be producing 4,000 bopd net.

I hope that helps

cheers

PC43