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Ithaca Energy Share Discussion Threads
Showing 21076 to 21099 of 21100 messages
|'Family Day' a public holiday in Canada. Markets closed in Canada today which could explain slight drop in the UK AIM pricing.|
|I agree wholeheartedly with you guys, but apart from not voting our shares what can we do? Think I will have a word with Sharesoc,|
|bountyhunter & sledgesurger
It's. Even a long road to get here with the FpF-1 and oil price dipping since 2014 .. it does feel like the real reward for the risk taken ( should be shared) has been scooped by the iae management and delek team.|
|sledgesurfer - I agree with both of your posts;
shareholders took the risk holding these anticipating oil flowing from Stella throughout all the trials and tribulations regarding issues and delays with the FPF1, only to have the reward pulled from beneath their feet a few days before the announcement of successful first oil being achieved;
Delek want to take 100% of the reward having taken just 19.7% of the risk!|
|I also have a concern that they've done the minimum necessary to get hydrocarbons onboard and tick the 'first oil' box and we'll be in for more delays to get the gas compression and injection systems online to realise the full well potential with gas lift which will push any reliable production data well outside the offer window. I can think of no reason which doesn't stink for the board to have recommended this offer at this time. All imo. Dyor.|
|How can a board possibly know whether an offer represents value for the company without confirming steady state production rates from the field and subsequently reforecasting?If the incremental production represented a small portion of the company output and extended well tests had been performed post-drill i could perhaps understand. Obviously that's not the case here. Shareholders appear to being asked to suffer the interminable delays and ineptitude associated with getting this field online yet forgo potential reward associated with its eventual delivery, revenue and debt repayment.I think its worth remembering that this field should have been online well before oil's drop in '14. To recommend a sale now at such a meagre premium is weak on the boards behalf. I only hope the institutions prove less spineless.|
|all moved on now or switched off their transponders
|you can now see the Scott Spirit and some other vessels close to the the FPF1... Http://www.marinetraffic.com/en/ais/home/centerx:2.1/centery:56.8/zoom:10|
|Thanks for links guy fawkes. Let's hope the institutions kick these Shylocks into touch. I am not selling.|
|btw don't forget that if Delek don't get acceptances for > 90% of the issued share capital then they can't execute compulsory acquisition of the remaining shares necessary to delist Ithaca's shares from the stock market|
|Delek Group Announces on Support Agreement for a Recommended Takeover of Ithaca Energy Inc.
Asaf Bartfeld, President and CEO of Delek Group: "Today, we are taking another significant step which, if successful, will firmly establish Delek Group as a global E&P company, with international oil and gas assets and strong operational capabilities. The Ithaca transaction will substantially strengthen our international operational arm, and is a synergistic step to our existing activities. We believe Ithaca will contribute to our continued growth and we look forward to reinforcing and building on our status in international markets."|
|Now hold on guys, Mr Bartfield and Mr Abu, being nominees (presumably) of Delek, will have stepped aside and have had no part in discussing or recommending Delek's derisory and opportunistic bid.
Unless.... that rule does not apply to AIM? The smell is overpowering.|
|Joseph Asaf Bartfeld Non-Executive Director of IAE.
Mr. Bartfield has held a number of senior positions at Delek Group including CFO over the last 20 years. Mr. Bartfeld serves as the Chairman and Director on the Board of Directors of a number of Delek Group subsidiaries and affiliates.
Joseph Asaf Bartfeld
Joseph was appointed as a Non-Executive Director in October 2015. He has extensive experience of acquiring and building businesses across various industries, including the energy sector, having worked for the leading Israeli conglomerate Delek Group for over 20 years.
Other Directorships & Offices:
President & Chief Executive Officer of Delek Group Ltd; Non-Executive Director of various Delek Group subsidiaries and affiliates
Mr. Bartfeld has a B.A. degree in economics from Tel Aviv University.
|Delek Energy is attempting to take over Ithaca Energy, but now faces a road block.
According to The Telegraph, a fund manager at Cavendish Asset Management (Ithaca’s fourth largest shareholder), Paul Mumford, strongly believes that the bid should be rejected.
|Ithaca- Alert, being sold out on the cheap… Malcy.
Along the same sort of lines, Ithaca has announced that the Stella Field has started up production albeit some time after the market had expected. Having said that, the news will be exceptionally good for the company as revenues will start to flow and debt can be paid down.
I’m sure that this is what Delek thought when it bid for the company at a modest, nay measly, 11% premium last month. Despite it being the star performer in the 2016 bucket list, as soon as the good times are in sight and meaningful rewards are offered, management and shareholders jump ship at the first sign of men from the east bearing gifts. I would like to think that those in decision making positions whether they be institutional or retail would think twice before selling out like the management have done, after all Ithaca is the original wallet warmer…|
|yes exactly Steve - I used to have options which vested early on takeover of an organisation I previously worked for so I twigged that straightaway - and on top of that they seem to be keeping their jobs so they are clearly thinking of themselves and not PIs|
|I've been somewhat surprised that the directors have recommended this takeover since they collectively hold around 2.3 million shares (aggregate total from the figures quoted in the header from RNS's dated 26th & 30th May 2016). I'd have thought they'd have preferred to let the share price rise to a more "reasonable" level, especially since first oil was imminent.
But on checking the 2015 Annual report, I see that.....
"As at 31 December 2015 Ithaca had 411,384,045 common shares outstanding along with 19,216,206 options outstanding to employees and directors to acquire common shares."
Since these options are likely to become fully paid on a take over then I can immediately understand why they are in favour.
The common or garden shareholders have most definitely been mugged!!!|
|they are clearly too good to tell us mere PI shareholders|
|And the production and flow rates are?
Delek will know!|
|Very disappointed with the actions of the bod here.|
|Easily 1.25 to 1.30 just today and with norpipe, vorlich fdp and 5 new wells to be drilled (including Harrier field)
New bid please of 1.40 to 1.45 next month!!|
|Hopefully the instis can lift the roadblock and we can start to move upwards again.
|Looks like the "Roadblock" theory was correct.
|Imagine what the shareprice could have been this morning and the great feeling on this thread without the takeover offer in the way.|