some 50mil in the bank, page-10

I think the ITC funds raised will come to circa 2.5m no where near enough if we think that VPE want to use some 50m firepower to increase drilling.

someone mentioned that each well costs approx 1.2m to drill. at 60% 720k, with the remainder to ITC 480k. so ITC could drill circa 5 wells with the cap raising.

3.6m of 50m or so for VPE. They could still pursue an ITC takeover at 25m odd cash and the rest in scrip.

I really think there is some merit in the whole ITC thing. So much so that I am going to put some money where my mouth is and get a few ITC in the morning I think. Especially if it retreats further toward the SPP price of 5c.