After speaking to Greg Smith who is a guru in his field. He...

After speaking to Greg Smith who is a guru in his field. He discovered all of ARC's stuff off the west coast. He said to me just last week that if the trap is there they will have 8mill barrels recoverable minimum which will be 3.2 mill to ITC.

The Mirage field has 1.6 mill on its own with ITC 40% share. The Growler field is yet to be finalised but the feeling is that it is far greater.

When I spoke, I spoke for the need for ITC to drill the hell out of their Mirage fields and Growler fields and get the oil out. I believe they will do this with Growler first only as the flow rates are more viable.

VPE has also been a problem and believe they have been holding things up as well.

I still think your valuations are thin but the market is speaking at the moment. The next few months are crunch time. Their MC is only 24 mill. Their is definite upside to come IMO