itc;listen...what's that buzzing noise, page-4

My reading of this is different to yours. I read that Springfield oil and gas is a fully owned subsiduary of ITC. This is from the Dec 03 report.

"In early May, 2003, Impress’ wholly owned subsidiary, Springfield Oil and Gas Pty Ltd, entered into a farmin
agreement for the onshore Cooper Basin permit PEL 104."

Springfield owns 15 % of several Cooper basin leases.

With oil prices on the increase and considerable interest in Oil explorers, anything's possible. I saw some pretty impressive prices paid for Dot Coms.

At least Oil has substance and demand.