Auto, you are not quite correct. ITC has enough funds for a...

Auto,
you are not quite correct. ITC has enough funds for a couple of wells and ongoing development..IF...
They are self funded from increased oil sales in the tanks and from production....IF
They have at least 27 high grade targets to drill with a probable sucess rate of greater than 60 %.......IF
They could be producing 3000BOPD to themselfs by Xmas next year conservatively........IF

IF ........is not gunna happen.
The Cooper Fairway is wet and it will remain wet for at least another year.
Impress is on care and Maintainance but it still chews up about $250,000 a month. Drill equipment and the oil fields are or will require on going maintainence. Its a No Go and in Part some of the responsibility lays at the door of Vicpet for the poor forsight. Just have a look where some rigs were sited especially in the Snatcher area. They could have done better. If Sir Eddie was 30 ish and had not had a transplant then maybe we would have been looking at other proposals etc.
I say again the Gods of Fairgo have been very unkind to Eddie Smith.
Shareholders in the past have not supported the previous Cap Raising's and have sold down.???????
Now ...
Beach is using a hover craft to access fields. Beach has a pipeline. Beach sited there wells with greater thought and care than VPE. They are a better operator in my opinion.

I AGREE with you Autosime having regard to the lack of any "IF's" this is likely to be the best offer in the near future and I have reluctantly sold. I do not think any one else at the present time is going to offer anymore for a non producing asset. When Impress is producing again and they can drill targets the value is at least double the current cap on Impress IMHO. 247