Visited friends in the lovely Pohangina Valley in the long weekend. Summer was in full swing there! Truely a beutiful spot, one of Manawatu's little jewels.
I think like you Clotski (precipitation = precipitate ; ) from here to the drill (getting ever nearer) is the time range for SENEX, BEACH ENERGY, or maybe even SANTOS to make a grab for ITC.40% of the oil fairway is up for grabs - at the right price. Logically this would be sooner, rather than later during this period of enforced inaction.
Any offer is likely to come ONLY after agreements have been reached with ES and Directors. So patience is needed, unless one of the three jump the gun and we get a multi offer situation : ) This all assuming Cooper Oil Basin consolidation is not just a figment of our over active investors minds ; ) However, value, logic and recent TA flags mitigate this risk IMO.
Senex / VPE's price recent rise over 35c also clears that hurdle (in that an offer from that quarter needs a supporting Senex / VPE share price through 35c + in my opinion).
6c is the next barrier, through this and market is factoring in pending action.
ITC Price at posting:
5.6¢ Sentiment: Buy Disclosure: Held
