Many Australian oilers are underpriced at present so ITC is just another.
Don;t worry though, my feeling is that when the production gets ramped up in the next few weeks earnings becomes easier to predict and PE;s and all that other stuff becomes the very fundamentals that people and broking houses work on. Further success at Snatcher 3 will reinforce the Western Fairway Concept and with a big drilling program starting early next year we will hit the 3000 bopd target much earlier than most have predicted within the company. Snatcher 3 could add another 400bopd which then gives us the 2400bopd roughly. Further Growler wells say 2 even at 2-3 bopd nearly gets us there withour any further infill drilling or wildcat success. There is so much to like now. I am even getting excited writing all this right now.
2010 The year of Eddie. Very impressive times ahead.
ITC Price at posting:
5.3¢ Sentiment: Buy Disclosure: Held
