One thing to remember Autosime is that ITC have had this acreage for many years and due to lots of issues did not drill it for many years. This Western fairway area could be one the largest onshore fields to be discovered. Many of the other bigger fields have been drilled when ITC/VPE were suppose to drill . This fairway based on only 268 sqm of 3d could have some unfathomable amount of oil in place and then recoverable. The latest suggests up to 20 mbo recoverable .
Tigercat is a separate field but it is only small in comparison to Growler.
Snatcher is the unknown. Snatcher appears to be a north western extension of Santo's Charo field. When we had success at Snatcher one of wells was just 400m from one of Santo's well. It could be the same field. The field according to the company is open to the north west. The boundary is yet to be defined drilling. Santos are still working to a plan to drill more wells at Charo and exploit the field . The 2 companies have discussed the field.
Growler is also a bigger sleeper than what has been proved. Look at the 3d pictures and look at the Growler east area.
The confidence of the 3d and the 3p reserves to be converted to 2p is high but as you say as they test the limits of the boundaries things can change especially with oil fields.
ITC Price at posting:
4.7¢ Sentiment: Buy Disclosure: Held
