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I work in the oil industry here in Norway.
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I work in the oil industry here in Norway.
Genuine question.
Crescenter - WRONG!
"hoping this is the one" - Spoken like a true mug punter.
The IMF disagrees with you H&T, seeing POO remaining around 55USD through mid 2017. Hedges run out then, so can Ithaca survive and keep up debt
Seems like a desperate plea to save the company.
"Bottom been and gone" - Just wait for Iran to release their stored up oil onto world markets. Bloodbath for North Sea oilers.....
"Debt of Limited Risk" - tell that to Afren shareholders.
At 50 dollars a barrel and Ithaca current operating costs of 35 dollars a barrel. Gives netback 15 dollars barrel. (yes there are hedges but even the
Ithaca buy something for 70 million and sell it for 30 and these guys think thats great. No wonder they're nearly a bilion in debt. .
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