current reserves

After numerous questions on our current position , from the available info this is where ITC is at.

Growler 1.8 recoverable ITC 720 000
Tigercat single well P50 700k ITC 280 000
Snatcher field 80acre proved 720K ITC 288 000

Mean current reserves ITC 1288 000

To add to this we have wells at Wirraway and Warhawk that have been cased and suspended although will be low producers due to less permeability. There is oil there though.

Growlers field is open and after 3d assessment is likely to be upgraded. How Much?????

Tigercat has been put at a P10 level of 4.7 mbr for the structure. The data above is for the well only. Further drilling is expected here next year with the reserves likely to increase with each well.

Snatcher is also open in all directions and the volumes given above are for 80 acre drainage only and don;t include the new sands found in S3. Current wells are drilled on 160 acre spacings.

It would be fair to say we are in for plenty of upside.

In terms of value using Monarks theory we are at about $34 per barrel based on market cap only. Therefore without value for acreage , further upgrades, earning capacity, plant and equipment etc we are defintely undervalued and with plenty of upside available.