from the ITC Chairmans update today.."...2010 will be a year of...

from the ITC Chairmans update today..

"...

2010 will be a year of consolidation from the considerable exploration successes achieved in 2009 at the Snatcher Field. Production at our Growler and Snatcher Fields is now back on line after recent rainfall cut roads in the Cooper Basin over the Christmas period.
Although the final details of this years drilling program have yet to be worked out with our Joint Venture pending receipt of the delayed final processing of the Mollichuta 3D seismic data from the Operator, Victoria Petroleum NL (which is imminent), 2010 will see a vigorous drilling campaign comprising development, and appraisal wells at Growler, Snatcher and potentially Tigercat and Wirraway Fields. The program, starting in the first quarter of 2010, will also include selected exploration wells and is designed to get production up to around a gross 3000 BOPD by the end of the year.
In addition, water handling, which has been an issue between ourselves and the Operator, Victoria Petroleum NL, is being addressed at both the Growler and Snatcher Fields with the provision for construction of evaporation ponds that should enable existing wells to be produced at less restricted rates. This work will commence soon at the Growler Field.
..."