share price, page-3

ITC just stuck in a 5 to 6cent trading range as VPE (EP operator) has failed to deliver a properly processed 3D dataset on time.

The 3D data should have by now been processed and interpreted by end December, ITC and its shareholders should by now be reaping the reward of its geophysical expenditure.

Ideally ITC should have by now engaged an independent reserves expert to define the actual possible p10 to P50 to P90 recoverable reserves numbers for all of its recent discoveries.

Unfortunately ITC hamstrung do to the delays which are no fault of its own.

Maybe ITC should just get hold of the raw 3D field tapes and do the processing itself, I know that will cost money but that would mean that they are independent of the operator and will be able to keep VPE on its toes so to speak.

Finally on a larger picture the drop in oil price isn't good either.

Long term ITC future looks bright, new buying by a director is good even though for only a small amount.