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ITC - Impress Ventures

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ahh, so they're going to drill a new hole 900m from a producing Santos well.

That old chestnut, good to see. i can't wait to see the angle the rigs set on! :D

In at 5c last year, trying to decide to bail early and get my capital back.... or hang around for the results of this probe...
 
Looks like ITC will hang around in the high 4c range now that Snatcher has spudded.

IMHO, we need news of a Growler production upgrade or positive signs from Snatcher to take us to the next level.


Holding ITC

Interesting days ahead...
 
Sold out of ITC late this week.

As I stated earlier on the thread when I entered at 3c, I was always playing this as a BESBS play.

ITC has heaps of potential for the longer term holder. If Snatcher comes in, suddenly the focus will turn to the possibility of a greater oil fairway. This would get the SP moving! For remaining holders, I hope that this comes off. Apart from following drills (and I think the appeal of these to punters will be influeneced significantly by the success/failure at Snatcher), improved production results is always a potential bonus here.

That said, I try to limit risk in a high risk sector. I can't be sure that ITC will move above 5c until we start to get news of Snatcher. Maybe it will, maybe not? I don't know, so I have taken the profits and left.

All the best to holders.

Bought 3c, sold 4.7c ave. (55%+ profit).

Cheers,
BESBS Player
 
B , Sold out!
Congrats on your gains.


Snatcher news today ... gain of 30%, hit 5.9c at one stage.

OIL SHOWS IN SNATCHER-1, PEL 111, SOUTH AUSTRALIAN COOPER BASIN

Victoria Petroleum N.L. (Vicpet) as operator for the PEL 111 Joint Venture advises that at 0600
hours today, the operation at Snatcher-1 was pulling out of the hole in preparation to running an
open hole Drill Stem Test (DST) to test the fair to good oil shows observed over the interval 1,772
metres to 1,781.4 metres.
The significance of the oil shows observed will be evaluated by the current DST and wire line logs
to be run after the well has reached total depth. Snatcher-1 is testing the oil bearing potential of
the Snatcher Prospect adjacent to the Santos Limited operated Charo Field in PPL 177. The PPL
177 licence is wholly contained within PEL 111.

The participants in the drilling of Snatcher-1, PEL 111, PEL 104 and PRL 15 and their respective
interests through their wholly owned subsidiaries are as follows;
Victoria Petroleum N.L. (Operator) 40%
Impress Energy Limited 40%
Permian Oil Pty Ltd. 20%
 
yeah baby, it must've been on a 45degree incline! :D

So what would you make of an drillers announcement of "fair to good oil shows"?

Fair being enough for an oil change in the old holden?
Good being a couple of barrels?

Is there a standard to expect from this sort of news or is waiting for the wireline the only option?
 
They announced (VicPet operator) that its being set for production and the rig is moving another 899m away from the producing Santos well to drill Snatcher2.

Nice move guys, and the SP is up to 6c today. Any ones guess if they find oil in the next hole, if they do the SP will be interesting. Could ramp up a bit before spud on this one. :2twocents

Looking good for me for once :)
 
ITC - Great results at Snatcher 2

I do not know how many followers there are of ITC but for anyone who holds them right now they have something to celebrate - see AXA announcement today

:)
 
ITC - ASX announcement out today - full steam ahead!

Whilst there has been very little said recently in Aussie Stock Forums about ITC, the long-awaited investor presentation is out today and makes for happy reading for ITC investors, although the sp has gone up only modestly so far.
 
this company looks like it is on the threshhold of vindication.

a comparison of the fundamentals and charts against one of the great success stories like CVN would have it poised on the very edge of a significant move out of micro cap status.

using current oil price and confirmed production levels, i would be looking at 11c as the first short term price target, by perhaps november.

any confirmation of larger reserve sizes would then see the beginning of a major re-rating.

an excellent time for ITC holders
 
Ronaldo,


Have to agree with you.


See Ann. re drilling provided on 8 October.

Coming weeks could get very interesting.

Imo, around 10c as next initial target with good news - hopefully by November.



:)
 
COMMENCEMENT OF DRILLING AT SNATCHER-3
PEL 111, SOUTH AUSTRALIAN COOPER BASIN

Victoria Petroleum N.L. (Vicpet) as operator for the PEL 111 Joint Venture advises that Century
Drilling Rig #3 commenced drilling of the Snatcher-3 exploration well in PEL 111 at 0700 hours
today, Current operation was drilling surface hole at 23 metres.
Snatcher-3 is testing the oil bearing potential of the Snatcher Prospect adjacent to the Santos
Limited operated Charo Field in PPL 177. The PPL 177 licence is wholly contained within PEL
111.
The Snatcher Prospect is situated on the Western Margin Oil Trend, with Snatcher-3 a test of
whether oil can be stratigraphically trapped within seismically interpreted discrete sand bodies in
channel systems present within the Jurassic Birkhead Formation.
The target sand in Snatcher-3 produced oil from the recent Snatcher-2 oil discovery, 787 metres to
the south east of Snatcher-3 at a rate of 207 barrels of oil per day.
Snatcher-3 is planned to be drilled to a measured total depth of 1,850 metres in 10 days. Drilling
reports will be provided to the ASX on a weekly basis and as significant events occur.
 
SP up nearly 20% atm on news of oil shows.


OIL SHOWS IN SNATCHER-3,
PEL 111, SOUTH AUSTRALIAN COOPER BASIN


Victoria Petroleum N.L. (Vicpet) as operator for the PEL 111 Joint Venture advises at 0600 hours today, the operation was continuing to drill ahead in 8 ½ inch hole in the target Birkhead sand at 1,784 metres measured depth with oil shows.

Good oil shows have been observed in the target Birkhead sand from 1,766 metres to the present depth.
The full significance of these oil shows will be evaluated by electric wire line logs to be run after the well has drilled to its planned total depth of 1,850 metres.
Snatcher-3 is testing the oil bearing potential of the Snatcher Prospect adjacent to the Santos
Limited operated Charo Field in PPL 177. The PPL 177 licence is wholly contained within PEL 111.

The Snatcher Prospect is situated on the Western Margin Oil Trend, with Snatcher-3 a test of
whether oil can be stratigraphically trapped within seismically interpreted discrete sand bodies in
channel systems present within the Jurassic Birkhead Formation.
The target sand in Snatcher-3 produced oil from the recent Snatcher-2 oil discovery, 787 metres to
the south east of Snatcher-3 at a rate of 207 barrels of oil per day.
The participants in the drilling of Snatcher-3, Snatcher-2, and PEL 111 and their respective
interests through their wholly owned subsidiaries are as follows;

Victoria Petroleum N.L. (Operator) 40%
Impress Energy Limited 40%
Permian Oil Pty Ltd. 20%



.
 
The wireline logs should be announced either tomorrow or Friday which should confirm the positive significance of the oil shows. Impress are always conservative in how they report news so this is very good news indeed! Good luck to all holders - with good flow rates and reliable profit projections for 2010 and the possibility for growth through further wells we should see ITC re-rated to a much higher level on these fundamentals alone. DYOR
 
Has anyone any ideas to explain the huge turnover and rise in the share price today? Oilfields are flooded until September, so no production till then.

Could VPE be building a stake? Nearly 20 million shares have changed hands today.
 
Has anyone any ideas to explain the huge turnover and rise in the share price today? Oilfields are flooded until September, so no production till then.

Could VPE be building a stake? Nearly 20 million shares have changed hands today.
Click to expand...


Over 5 million volume yesterday also.

Maybe someone has sussed that the share price is cheap at this level based on the amount of oil out there!

It's got me and most shareholders intrigued.



:)
 
ITC ... updated astroanalysis ..... 23112010

:)

Hi folks,

ITC ..... a merger with BPT is now on the table and that may make for some
good trading opportunities in ITC, over the next few months. Here’s some
astroanalysis for ITC, through to March 2011:

25112010 ... 2 time cycles, expected to bring some positive news.

29112010 ... 1 x positive and 1 x negative cycle = flat trading (?)

15-16122010 ... minor and positive light on ITC

24122010 ... minor news expected here

31122010 ... minor cycle

03012011 ... minor cycle ... finances(???)

07012011 ... 1 x positive and 1 x negative cycle. News expected,
but trading may be flat-to-down.

13-14012011 ... negative spotlight on ITC

28012011 ... minor and positive time cycle ... finance-related (?)

31012011 ... significant and negative news expected here.

11-15022011 ... 2 positive time cycles, bring spotlight onto ITC

18022011 ... positive news expected here

24-25022011 ... significant and negative cycle due here

04-07032011 ... minor and negative cycle, with news expected, too.

14032011 ... difficult aspect, may bring flat trading

21-22032011 ... positive time cycle ... finances (?)

24-25032011 ... difficult aspect expected.

28032011 ... significant and negative news expected here.


More later ...

have a great day

paul

:)

=====
 

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