valuations again!, page-33

hi GS
I am reading more About ITC
can you confirm tigercat is a seperate field to snatcher and growler.
Also the concept of oilfields been open in either direction, it's applies less than it does to minerals deposits. Oil comes in pockets. A field may be bigger but also may dissapointed just as easy. I agree if 3p reserves are converted to 2p reserves even at 80% then ITC is cheap. Have a look at historic COE drilling in the Cooper basin, often a drilling campaign targeting 5 million barrels may deliver 1 million. The last significant COE CB campaign targeted 20 plus million ( upside case as vpe use ) and deliver a little over one million