Ann: Chairman's Address to Shareholders , page-19

Its disappointing because they fell short of their own estimates.
Growler facilities were upgraded to handle an "expected" 1200-1800 bopd. (refer March qtr rpt)
Due to "significant early water cut", Growler field production remains at 1000bopd gross (refer Chairmans address today)
Sounds to me like Growler field will go into decline from now rather than ramp up which was previously expected.

Ever since Mirage, ITC have a history of over promising and under-delivering. Thats how they got to 800 million shares and a 5c sp. Hopefully they will have more luck with Snatcher production and the followup wells.
They've got potential, that's why I keep watching them.