understanding, page-3

Hi all

Just speed read the annual report, here my take.

Well its all good news, self funding and finding oil.

My thoughts are that the flow rates from Growler are lower than needed, I wonder what they would be on pump? The 3D data will help define the sand channels at Growler (elsewhere as well), may encourage a large step out to define the field extent?

Snatcher field, small typo between the paragraphys, will the field be on pump in Sept or Oct, looks to me to be more Octoberish we will see. Also the flow rates of between 400 to 500 bopd look low, I suppose they have to be conservative.

Key new milestone for ITC will be

1, Combined flow from S1 & 2

2, Prospects defined from 3D data

3, Successful well results from G 6 & 7.

4, New drilling targets drilled based on 3D data.

Only one slight concern is news that options can now be issued, that's okay so long as there aren't to many, I would prefer the management and Directors (new ones obviously) to buy some shares as well.

cheers

PC43