I hear what you are saying but the prices you mentioned with BPT and COE etc are market prices not valuations.
BPT and COE are perennially undervalued and in the event someon wanted them they would have to pay considerably more than the market price.
The price currently to me is fair given the circumstances but would expect to be trading 2-3 cps higher once activity starts. After that will depend on success.
Also remember we already have reserves so you can add them to the potential reserves. Pricing blue sky is always hard but if the wells start coming in the risk gets lower.
ITC Price at posting:
4.7¢ Sentiment: Buy Disclosure: Held
