Ithaca Energy Share Discussion Threads

[georgie pie] 16/8/2016 12:20

Now now.....watch for nice little breakout coming in next hour or two...flirting with 71p on the cards and if it holds till closing bell that's the 60's done & dusted. Probable RNS tomorrow to say FPF1 is safely at Stella will put us at 73-74 imho

[tracy_moore] 16/8/2016 11:49

Lol, just not yours.

[joestalin] 16/8/2016 11:47

You are a true cheerleader!

[tracy_moore] 16/8/2016 11:37

Thank you so much, I intend to just that. More than contentedly.

[joestalin] 16/8/2016 11:32

I think you may be confusing a bit of realism with negativity. It is your money, invest it how you wish. I am content with my holding.

[tracy_moore] 16/8/2016 11:20

Everyday Joe drips a little bit of negativity, everyday the share price rises. Give up lad lol.

[georgie pie] 16/8/2016 10:42

Brent @$48.62....the stars are aligning for Ithaca.

[georgie pie] 16/8/2016 10:41

Canaccord upgrade to 85p from 65p. Give it a couple of weeks and they will have to upgrade it again once the 85p is breached.

[joestalin] 16/8/2016 09:44

PoO needs to break $50 before anyone will take any notice. Maybe a rerating then?

[sawadee3] 16/8/2016 09:17

48.44 and rising :-)

[bountyhunter] 16/8/2016 08:24

Brent now at £48.00

[steve73] 16/8/2016 05:20

The BOA JARL (anchor handler) two tug/supply vessels, the BOA BISON and the OLYPMIC OCTOPUS, and the ESVAGT CLAUDINE (standby/safety vessel) are all on station at Stella ... FPF looks to be less than a day away c. 70 nm.

[bountyhunter] 15/8/2016 17:43

last position of the Balder Viking was 3hrs 41m ago travelling at 4.8kn course 257 degrees, probably out of AIS contact now that it's in the North Sea?

[hangthedj] 15/8/2016 16:49

Anyone managing to get an updated position on the FPF1 tow??

Hopefully it's making it's way across the north sea but tracking doesn't seem to be updating?

------------

Last received ship position

AUG 15, 2016 02:56 UTC

[georgie pie] 15/8/2016 14:54

Ha, that's what I thought...he must of been so excited he got the date wrong!! We must be even more of a target now...even more ludicrously cheap than last week!!

[lfdkmp] 15/8/2016 14:42

Think his November 2017 is a tad pessimistic !

[whiskeyinthejar] 15/8/2016 14:37

Bit more from malcy:

Ithaca Energy

Interims this morning from Ithaca showing that all is going to plan for the poster boy of the E&P sector. Production of 9,378 b/d exceeded guidance of 9/- and a ‘solid’ cash flow of $82m is down to sustained reduction of unit operating costs now estimated at sub $25 pre-Stella and lots of hedging, 8,200 b/d by mid 2017. Net debt keeps falling, from being over $800m it is at $606m at the end of June giving headroom of over $120m.

Those of us tracking FPF-1 can see it on the last stage of its journey and going so well that the company have given an actual date for first Hydrocarbons, remember remember November 2017. The outlook is indeed good, strong even and with that date in sight production will rise to 20-25/- b/d and operating costs to below $20. IAE shares have had a good year as the market appreciates all the good work on costs and of course the material change at Stella. At 65.5p they have quadrupled in the year to date but with so much good news coming I am confident that there is plenty more to go for.

[whiskeyinthejar] 15/8/2016 13:33

New presentation today:

[joestalin] 15/8/2016 11:13

Nothing like a bit of optimism. I hope it is not misplaced.

[bigdazzler] 15/8/2016 09:31

My short term target is around the 80pence mark.

[georgie pie] 15/8/2016 09:04

Time to get in before 70p is upon us in next couple of days!!

[bountyhunter] 15/8/2016 07:56

from the above link...

GSA Development Film

A short film capturing the work that has been completed on the Stella development and sail-away of the FPF-1 from Gdansk is available on the Company's website (www.ithacaenergy.com).

H1-2016 Financial Results Conference Call

A conference call and webcast for investors and analysts will be held today at 12.00 BST (07.00 EDT). Listen to the call live via the Company's website (www.ithacaenergy.com) or alternatively dial-in on one of the following telephone numbers and request access to the Ithaca Energy conference call: UK [phone]; Canada [phone]; US [phone]. A short presentation to accompany the results will be available on the Company's website prior to the call.

[bountyhunter] 15/8/2016 07:48

15 August 2016

Ithaca Energy Inc. (TSX: IAE, LSE AIM: IAE) ("Ithaca" or the "Company") announces its quarterly financial results for the three months ended 30 June 2016 ("Q2-2016" or the "Quarter") and half year results for the six months ended 30 June 2016 ("H1-2016").

Highlights

Solid cashflow generation during H1-2016

-- Average production of 9,378 boepd - ahead of 9,000 boepd guidance
-- Sustained reduction in unit operating costs - full year guidance lowered to $25/boe prior to Stella start-up, down $5/boe or 17%, in line with H1-2016 performance

-- $82 million cashflow from operations, driven by reduced operating costs and hedging (cashflow per share $0.20)

-- Earnings of $46 million excluding mark-to-market of future commodity hedges, $6 million unadjusted (earnings per share $0.02)

Continued deleveraging of the business being delivered ahead of Stella start-up - strong liquidity position

-- Net debt reduced from a peak of over $800 million in the first half of 2015 to $606 million at 30 June 2016

-- Over $120 million of funding headroom - total debt availability in excess of $730 million following semi-annual RBL redetermination in April 2016

-- Significant commodity price protection remains in place - 8,200 boepd hedged from end H1-2016 to mid-2017 at an average price of $59/boe

"FPF-1" modifications programme completed and vessel approaching Stella field location

-- On track for Stella first hydrocarbons in November 2016, three months after sail-away
Long term value of the Greater Stella Area ("GSA") hub enhanced by future move to oil pipeline exports and expansion of satellite portfolio

-- Access secured to major oil export pipeline for future production and initial tie-in works completed, allowing switch from tanker loading to pipeline export during 2017 - reduces fixed operating costs, enhances operational uptime and improves reserves recovery

-- Interest in "Vorlich" discovery increased to approximately 33%(1) and a 75% interest and operatorship acquired in the nearby "Austen" discovery

Strong outlook - material near-term step-change in production and cashflow

-- Production set to more than double to 20-25,000 boepd and unit operating costs to reduce to under $20/boe with start-up of production from the Stella field

-- Attractive set of future investment opportunities within the portfolio - ability to tailor the capital investment programme to the prevailing economic outlook

-- Increasing financial flexibility - focus on delivering continued deleveraging of the business within a balanced capital investment programme

Les Thomas, Chief Executive Officer, commented:

"The business has continued to perform well over the first half of the year. Production is running ahead of guidance, operating costs have been further reduced and we have continued deleveraging the business. It has been particularly pleasing to announce the recent sail-away of the FPF-1, the quality and completeness of which means we move forward into the operational phase of the Stella development with confidence. We remain focused on getting to first production safely and efficiently, whilst ensuring we secure the long term value of the hub through our on-going investment activities."