Ithaca Energy Share Discussion Threads

[robizm] 10/11/2022 12:21

What an idiot you are Blackhorse as most brokers don’t let you trade in these yet so unless you own part of delek you are a liar

[blackhorse23] 10/11/2022 12:03

Sold today & bought CURY (LSE)

[pro_s2009] 10/11/2022 09:46

Yes it should........I will email them later if they dont correct it.

[bomfin] 10/11/2022 09:45

Should the market cap not be 10 times what ADVFN are showing above ?

[pro_s2009] 09/11/2022 23:58

And this is the Half Year results to June 30th 2022



.

[pro_s2009] 09/11/2022 23:57

The prospectus is on the link below :



.

[chessman2] 09/11/2022 20:43

Another candidate is JOG which has 2 or 3 directors connected with Ithaca and an appealing tax loss waiting to be taken on board by the buyer.

[sbb1x] 09/11/2022 20:25

Found it 70,000 barrels per day

[sbb1x] 09/11/2022 20:22

How many barrels do they pump per day..

[bulltradept] 09/11/2022 13:06

I am confused.com. Apparently you can't hold it in an ISA, according to ii.co.uk?

[m0g] 09/11/2022 12:30

Cant see this doing much, which is a shame, the market/investors wont like that only a max of 11.8% of the company is listed, whilst the hedge fund retains the balance.

[pro_s2009] 09/11/2022 12:13

Fair bit of selling going on.........down 11%

[pro_s2009] 09/11/2022 10:38

Wait for this.

-- The Prospectus, including full details of the Offer, will be submitted for approval with the FCA and is expected to be published later today. A copy of the Prospectus, following publication, will be available on the Company's website at ( www.ithacaenergy.com ), subject to certain access restrictions.

[ridingthewaves1] 09/11/2022 10:36

What is Ithaca cash position and how much do they produce

[sheepshagger1] 09/11/2022 10:15

no.

HUR RNS from last week when they put themselves up for sale:

"The estimated value of the tax losses and allowances held by the Company at prevailing tax rates, including the Group's pre-trading expenditure, future decommissioning costs and non-ring fence losses, was $373 million at 30 June 2022. This is the maximum possible theoretical value and is subject to timing and circumstance; and it is unlikely that all of the potential value would be able to be realised.

While the ongoing profit generated from Lancaster operations utilises some of these tax losses, significant potential value remains that could be utilised through new production. These tax losses could also be attractive to a potential acquirer of Hurricane."

[pro_s2009] 09/11/2022 10:11

Are they not ring fenced though............ ?

[sheepshagger1] 09/11/2022 10:02

HUR have $370 million of valuable tax losses which would be off huge interest as well as their cash pile.

[pro_s2009] 09/11/2022 09:50

Its preferred to buy debt......buying cash is wasting money. Much better to buy debt.......look around for companies that have nice big debt levels.........

[sheepshagger1] 09/11/2022 09:49

They should buy HUR who have put themselves up for sale and are cash rich

[pro_s2009] 09/11/2022 08:30

Going to be lots pumping about who it potentially will be........lots of potential candidates........

[chessman2] 09/11/2022 08:26

I wonder who their next M & A candidate will be?

[pro_s2009] 09/11/2022 07:19

Offer Highlights

-- The Offer Price has been set at 250 pence per Ordinary Share.
-- Ithaca Energy's total market capitalisation at the commencement of conditional dealings on the main market of London Stock Exchange will be approximately GBP2.5 billion ($2.9 billion) based on the Offer Price.

-- The Offer comprises 105,000,000 new Ordinary Shares being sold by the Company. This equates to a total offer size of GBP262.5 million ($303.6 million) and represents approximately 10.4 per cent of Ithaca Energy's issued share capital on Admission. The Company will retain no net proceeds from the Offer, with all net proceeds ultimately being received by Delek Group Ltd ("Delek").

-- In addition, a further 15,000,000 Ordinary Shares in the Company are being made available by DKL Energy Limited ("DKL Energy"), the Company's immediate shareholder and an entity ultimately owned by Delek, pursuant to the over-allotment option, which, if exercised in full, would increase the number of shares in public hands to 120,000,000 Ordinary Shares in total and approximately 11.9 per cent of Ithaca Energy's issued share capital.

-- Immediately following Admission, the Company's issued share capital will be 1,005,162,217 Ordinary Shares.

-- The Prospectus, including full details of the Offer, will be submitted for approval with the FCA and is expected to be published later today. A copy of the Prospectus, following publication, will be available on the Company's website at ( www.ithacaenergy.com ), subject to certain access restrictions.

[pro_s2009] 09/11/2022 07:15

Announcement of Offer Price

Offer Price Set at 250 pence per Ordinary Share

Following the announcement made by Ithaca Energy on 25 October 2022 of its intention to float, Ithaca Energy today announces the successful pricing of its initial public offering (the "IPO" or the "Offer") at 250 pence per Ordinary Share (the "Offer Price"). Based on the Offer Price, Ithaca Energy's market capitalisation will be approximately £2.5 billion ($2.9 billion) at the commencement of conditional dealings on the main market of the London Stock Exchange.

Gilad Myerson, Executive Chairman of Ithaca Energy said:

"I am delighted with the outcome of our IPO. We have received great support from a high-quality selection of institutional investors and I am excited to welcome them on board as we continue to create value in the public markets.


Ithaca Energy has undergone a transformation over the past three years to become one of the UK's leading independent oil and gas companies and I am very excited for what lies ahead as we continue our journey in the public markets."

[pro_s2009] 09/11/2022 07:06

Header to be updated in due course.

[hew] 02/9/2011 11:29

My cheque from Capita just arrived! Thought it was to be November some time.

So Cheerio to this thread, and perhaps see some of you on another. (Have to invest this somewhere......!
H