what more do itc have to say..nothing, page-25

Going by the elation on this thread, I thought you'd all be buying with your ears pinned back this morning.
Alas, there's a lot of ramping and not much buying going on

Roughly, they need to add ~2mmbls gross 2P reserves to justify the current MC of $45mil 5.6cps

ie

Mirage/Ventura 1mmbls x NPV10brl = $10mil x 40% = $4mil
Growler 1.5mmbls remaining x NPV30/brl = $30mil x 40% =$12mil
Net cash ~$4mil
Subtotal = $20mil or 2.5cps

Snatcher/Tigercat and Growler/upgrade gross 2mmbls x NPV30/brl = $60mil x 40% = $24mil

Grand total $44mil or 5.5cps

So gross 2mmbls reserves addition to the booked 2P reserves to justify current sp. Sounds like most of you are expecting a much higher addition to reserves, say gross 4mmbls+ ?