Ithaca Energy Share Discussion Threads

[ramas] 18/10/2016 20:11

120p on Stella going live anyone .... ?

[bountyhunter] 18/10/2016 20:09

rising significantly in Toronto this evening

[freddie ferret] 18/10/2016 16:44

Maybe just maybe there is a start to the decouple of this to the oil price.
SP is strong, oil has come off a bit.
Production is the key.
Risk is reducing over time IMHO.

[svenice7] 17/10/2016 17:34

Its amazing how far this has come. It was in the teens only months ago...

[whiskeyinthejar] 17/10/2016 09:58

Not much movement in share price on Friday, but lots of buying and traders were busy with the multiple 100 shares buys.

Early today it was multiple 590 shares at a time buys. Quite a few anyway. They seemed to stop with that when big buys then came in.

Anyway, only a few weeks now to fpf1 starts up now.

[whiskeyinthejar] 14/10/2016 10:38

Strong buying today. Mostly buys on good volume.

[sawadee3] 11/10/2016 08:12

Basking in the oil rally :-)

Happy days chaps :-)

[lfdkmp] 10/10/2016 16:13

"Oil Jumps as Putin Supports OPEC Deal"

[rivaldo] 10/10/2016 14:36

Nice plug on T.M.F today:



"Low cost production

Ithaca Energy (LSE: IAE) has been recovering well this year after a tough time in 2015. The shares are up 172% since 1 January this year and show no signs of stopping anytime soon. The recently released Q3 operational update shows that Ithaca is continuing to lower costs and work on asset profitability. The company produced 9,900 boepd (47% liquids) which was ahead of the 9,000 boepd target for the quarter.

The key value lever for Ithaca in the short term is first oil at the Stella field in the North Sea. First oil is expected in November and a rapid ramp up in production should see the company reach an annualised production rate of approximately 16,000 boepd. This should drive the operating cost per barrel below the $20 mark and boost revenue and profits. In August, CEO Les Thomas said “production is running ahead of guidance, operating costs have been further reduced and we have continued deleveraging the business.”

Ithaca has performed very well in the first half of 2016 and in the next few months the much anticipated Stella field will come online. First oil has been delayed multiple times but next year should be transformational for Ithaca. It plans to continue to pay off debt and deleverage the balance sheet. This plan should be good for shareholders as the business equity price should increase if oil stays above the $45 per barrel mark. "

[master rsi] 10/10/2016 09:12

Certainly a higher BREAKOUT 83p +5.00 (+6.43%)

[sawadee3] 10/10/2016 09:06

Easy game :-)

[sawadee3] 10/10/2016 08:51

This is turning legendary :-)

Happiest days of our lives chaps :-)

[rivaldo] 10/10/2016 08:46

Stella's near-term start-up now just starting to be recognised. Lovely.

[steve73] 10/10/2016 08:35

ngms.. Perhaps not quite that much.. Shuttle tanker dayrates are currently around 20,000 $/day. We'll need one all the time and a second for probably a couple of days either side to arrive and then depart & unload. So at 30kbopd that'll be about $1/bbl, with probably a small additional cost on top. Pipeline tariffs are typically 10/15 c/bbl, IIRC.

Additional (accelerated) oil production is worth considerably more.

[gersemi] 10/10/2016 08:33

Definite breakout now

[whiskeyinthejar] 10/10/2016 08:32

If you are talking capacity, I think we should remember the 85 MMscfd of gas capacity on top of the 38k bopd of oil/condensate. That's a lot of gas.

[ngms27] 10/10/2016 08:21

I'd think they will save something like $3 per barrel

[bountyhunter] 10/10/2016 07:36

Some good points Steve; in addition to next year's production forecast it would be interesting to hear from Ithaca what the cost per barrel when transporting via the pipelne is expected to be vs the cost per barrel when using tankers.

[steve73] 10/10/2016 04:11

As I understand it FPF is rated for 38kbopd maximum, but the significant downtime resulting from the use of offloading to shuttles reduces the annualised production to just 30k (of which Ithaca receive 16k), or a production efficiency of 79%.

Once the oil export pipeline is in service, I'd expect production efficiency to increase to a more typical 90-95%, which equates to our share somewhere around 18-19kbopd. In addition, there'll be significant OPEX saving over using shuttles, and steady production will be much preferable to stop-starting the wells every couple of weeks. Accelerated oil production is hugely profitable and the increased production decline will also free up production capacity and allow near field tie backs to be brought forward.

I'm definitely looking forward to next years production forecast, which, depending on the oil pipeline timing, could be much higher than anticipated.

[bountyhunter] 09/10/2016 13:57

Buy Ithaca Energy ahead of start of production of Stella field, Mackie urges
16:22 07 Oct 2016

Mackie Research has upped its cash flow forecasts following Ithaca's recent operational update.
Stella is expected to add around 16,000 boepd of net production in the final quarter of this year.
Patient shareholders in Ithaca Energy Inc (CVE:IAE, LON:IAE) will not have long to wait now before first production from the Stella field.

Mackie Research reiterated its ‘buy’ recommendation and C$1.75 price target on the expectation of substantial free cash flow once Stella is producing and the potential for future growth through the tie-in of Ithaca’s satellite fields in the Greater Stella Area.

The North Sea firm revealed in its third quarter update that production was ahead of forecasts over the first nine months of 2016, averaging 9,550 barrels oil equivalent per day rather than 9,000 barrels of oil equivalent per day (boepd).

Perhaps more importantly it disclosed installation of the FPF-1 floating production facility is proceeding as planned and first production from the Stella field is on track for November 2016.

The field is expected to add around 16,000 boepd of net production in the final quarter of this year...