Best Bets for the PEL 115 Group based on Yesterday’s closing prices.
Even after the recent placements and SP re-rating over the past few days, spurred on by the new key appointment of Greg Smith (ex ARQ, STO) as exploration manager and positive Mirage development outlook, ITC still remains top pick “Best Bet” for the upcoming JV drilling program.
According to VPE’s drilling schedule over the coming few months through to July’06 for the PEL 104/111/115 Cooper Basin Group (ITC, RPM and VPE) there are several wells to be drilled as follows.
PEL 104 Wirraway 16mbo, Wirraway West 8mbo PEL 111 Ascender 9mbo, Catalina 56bcf PEL 115 Mirage 2/3/4 9mbo, Skyhawk 23mbo, Tomcat 16mbo
I have totalled the above into a potential prospect average oil pool of 30mbo, subject to debate and change.
JV Prospects 30mbo JV Stocks: ITC, RPM, VPE
Best Bets: ITC, RPM, VPE Mean Gains%: 590, 530, 270 Top Pick: ITC
Note: The above values are forecast ratings for a successful series of strikes only, and are independent from the downside ratings or any other project(s) the JV stocks are involved in.
At this stage, ITC has all the hallmarks of an upcoming quality junior oiler. Cash, cashflow, management, exploration and some decent wildcats. All happening over the coming few months. Can’t be bad.
Good luck and happy punting, Mensa.
ITC Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
