Ann: Progress Report Snatcher Field Update , page-16

guttedsquid: I very much appreciate all your posts on ITC as well as the multitude of other posters with good insights.
Just on tiny comment from me in respect to the oil price that you expect will keep going up.
I fully agree that IF the world economy is not taking a big hit yet again, then energy needs will continue to grow. However, an other - and very important factor - in the increasing oil price is the weakness of the US$, i.e. the oil price is going the opposite way of the US$.
So, basically, the gains in oil price (when expressed in US$) may be "eaten-up" by the loss in exchange rate due to the strongly increasing A$ versus the weakening US$.
REGARDLESS, even without a further (in real terms, i.e. expressed in A$) appreciating oil price, ITC will be very profitable already on current (or even lower) oil pricing.
All JIMHO, of course.
ITC being (a bit or strongly ??) undervalued is not a problem as long as we do not get a "low-ball" takeover offer based upon an undervalued sp.... BUT, even if we should get such, I am very confident that Sir Eddie will not think of accepting a far too low offer.
wasa