Australian (ASX) Stock Market Forum

ITC - Impress Ventures

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Re: ITC - Eddie's shopping spree

Nice having a Chairman who keeps investing in his own company.

;)

He is showing a lot of faith.


I guess you could say he is either:
a. deluded or
b. incredibly savy


Holders hoping for b.
 
Re: ITC - Oil flows

FIRST SHIPMENT OF OIL FROM GROWLER FIELD
UPDATE: 11

Milestones
Over the weekend we achieved two milestones:
a) We delivered 447 barrels of oil to Moomba on 22 March 2008 from the Central Facilities.
b) Growler 1 and 2 well head pumps were put into operation on 23 March 2008.
Click to expand...


Growler flow rate is 155 BOPD on 23 March.

Next week should be 300 BOPD.

Expectation of achieving
production levels 750 BOPD.



Good news...


Update on Flooding

The course of the flooding in the Cooper Creek has slowed during the last two weeks and the main floodwaters have not yet reached Innamincka. Latest reports from the field are that the flooding isunlikely to affect operations at Growler.



4c.
 
Dear old Eddie has purchased more shares, over 3.2million @ average of 3.9c. See ann. today.

He must be getting close to the limit.

With the pumps working and flow rates expected to improve, the company could expect to be bringing in millions
(based on expected flow rates previously posted) in revenue in the not too distant future.

People are going to start taking this company more seriously.


:showmethemoney:

.
 
This is a nice quiet thread :D

Bought into ITC the other week basicly as a play on the drill with Snatcher. Snatcher is a joint project with VPE ( which has been very kind to me of late ) and Permian Oil. Rumours of an oil fairway have been flung about for a while.

Are you fellas still holding and maybe just a wee bit excited?
 
Eddie has continued to buy and this is a confidence booster.

Although, recently announced a rights issue at 3c!



Yep, it is a ghost town around here.

:
 
moneymajix said:
Eddie has continued to buy and this is a confidence booster.

Although, recently announced a rights issue at 3c!



Yep, it is a ghost town around here.

:
Click to expand...
Hi moneymajix,
Held up rather well I thought after than announcement but is rather illiquid so not reading too much into it. Havent made my mind up about Eddie but he does hold heaps which is a plus as you say.
 
Hi Strat & Moneymajix,

Decided to take a position in ITC on Friday.

After watching the SP fall back to close to the SPP price, I have jumped on board ITC for a BESBS ride. Like all BESBS plays, there is risk involved. I decided it was worth a punt for the following reasons:

* Funding is a little more secure with Eddie Smith around. Hopefully the SPP will provide more funds. Importantly, there should not be another SPP before the drilling program starts at Snatcher 1 in June...I don't want to see any SP run stunted by a large placement/SPP after I have bought in. I have been watching this one for a little while but felt that a capital raising of some type would eventuate. Now I know the detail and importantly, the impact on the SP at the moment.

* Drilling is planned very soon. June is not long to wait.

* Although hard to be sure, the SP is at a relatively low price (offering some leverage) and seems to be hovering around the low3c mark.

* History would suggest that ITC might run towards 4-4.5c as drilling commences. Not great gains but all profit is profit.


News of a Growler upgrade would be nice but will probably be too late for this BESBS play. Happy to see how it goes.

DYOR. Holding ITC.
 
Hi B

I wish you well with your purchase.

I am quietly confident re Snatcher.
Fingers crossed :)





>>>
 
Does anyone else mind it amusing that they have wells named Snatcher and Growler? I know i do... ;)

Do th co's name the wells or are the named when they buy the leases?
 
Hi MM.

While one can never be certain in this game, the entry price of 3c (now the SPP is out in the public domain), past SP action and Eddie's buying gives me some confidence here.

All the best with your investments.
 
Given the SPP closes today, we could see the new issue hitting the accounts as early as tomorrow.

It has been interesting to watch the stock sit between 3.1-3.3c for much of the SPP. This suggests to me that holders were slowly selling at a premium to buy SPP stock at 3c. If this is the case, then the SPP shall probably be OK (given the recent support for a few others mentioned below). The SP today suggests that the punters expect the stock to hold up and continue to move northward as Snatcher approaches. Guess we shall see shortly.
Once the new shares arrive, it is possible that we will see a small sell-off as some holders simply take profits and others sell down to be free-carried. That said, I think most will hold through to the drilling action so any dip in the SP when the new stock arrives shall be short-lived. Still happy with ITC as a BESBS play.

DYOR.
Holding ITC.
 
prawn_86 said:
Does anyone else mind it amusing that they have wells named Snatcher and Growler? I know i do... ;)

Do th co's name the wells or are the named when they buy the leases?
Click to expand...
lol Prawn ( How you doin by the way its been quite a while )
I think they are great names. Kinda give me a warm fuzz feeling :eek:

Not many sleeps now yall.
 
Hoping for some SP appreciation in the next couple of weeks. The SPP is now out of the way and ITC have their desired funding at this point.
Snatcher should be spudding soon.

From an entry point of 3c, I am happy with progress to date on this BESBS play. The remaining dangers are that some of the recent 3c SPP stock might get dumped along the line but I can't see this being too major an issue as many holders seem to be longer term and hoping a successful Snatcher being linked to an extended oil fairway in the prospect. I think the odds of this are low so will be playing this as a traditional BESBS play.

Holding ITC at 3c...
 
Good day today.

Lot of volume today which haven't seen for a while.

High of 4.4c.

Quite an advance on the spp of 3c.

Chart looking good.

Drilling Snatcher mid-June.


.
 
G'day Moneymajix.

Yes, a good day indeed. I'm not into charts so your feedback in this area is always appreciated, MM. I do like the way ITC is slowly creeping forward. Certainly nice to see the 4c barrier broken.

With a rising oil price in the background and a successful capital raising complete, a possible upgrade announcement coming, the drilling of Snatcher almost here and a small yet possible link between a successful drill at Snatcher and an extended oil fairway, ITC might have plenty of legs yet.:)

Holding ITC at 3c
 
BESBS Player said:
With a rising oil price in the background and a successful capital raising complete, a possible upgrade announcement coming, the drilling of Snatcher almost here and a small yet possible link between a successful drill at Snatcher and an extended oil fairway, ITC might have plenty of legs yet.:)

Holding ITC at 3c
Click to expand...

Looks like many in the market think similarly about the upcoming potential of Impress Ventures. ITC hit 4.5c today :p:
 
Great finish to the week. ITC now 4.7c.

Interest (based on volumes) is growing. With an upgrade on Growler likely soon, spudding of Snatcher soon and the belief of some holders that a hit at Snatcher could be linked to a larger oil fairway, I think that ITC has further to run. Time shall tell...

Holding ITC at 3c
 
Exciting buying this morning, price spurted to 5c.
:)

Great gains since your 3c purchase, B.

So much more interest in this company with news coming, as you mention.
 

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