Ithaca Energy Share Discussion Threads

[the guardian] 09/2/2017 08:31

Disgraceful.

[ramas] 09/2/2017 08:07

No signs of a counter offer yet ...

[bountyhunter] 08/2/2017 19:55

I think this is a better link - click link then "past track" then hover mouse of tanker to see destination...
ETA 2017-02-09 08:00 UTC

[bountyhunter] 08/2/2017 19:40

jobs for the boys! (& almost certainly early share option redemption) just what I suspected! ...so for them most probably carry on having pocketed option money as if nothing had happened!
looking at the Canadian 1 yr chart no-one would guess that there had just been a takeover bid...

[rich73] 08/2/2017 19:22

Thanks to miripod on LSE, but it looks like we have a tanker on route to Stella: Scott Spirit, 8am arrival.

hxxp://www.marinetraffic.com/en/ais/home/centerx:8/centery:58/zoom:9

A couple of days to hook up then FO, the question is when or will we get an RNS?!

Also from Lawrence "The press and journal 7th Feb".....

Ithaca boss pledges security for staff in Delek takeover.
Delek bosses said Ithaca would become a "subsidiary" of the Israeli conglomerate, They hope to retain the current management team of Ithaca, which expects first oil from Stella later this month. Les Thomas said Delek`s approach "made perfect sense" as they understood Ithaca`s strategy since 2015. The company is understood to be planning to list in London during 2017.
So much for BOD not having an incentive in recommending deal!

The plot thickens.

[bountyhunter] 08/2/2017 13:39

to convert the offer price to GBP at the live exchange rate type in 1.95 (CAD) here:
(also in the header alongside the CAD/GBP charts)

[bountyhunter] 08/2/2017 13:27

yes absolutely, Delek may be forced to go higher and if they don't (which would surprise me given their low ball offer right now) and the bid fails I think we can be confident of a higher share price post Stella and pipeline connection everything else being equal

[buy curious] 08/2/2017 13:24

Silverbaron is correct. I hope the instis remember FPF-1 and its associated infrastructure is now a hub from which the spokes can reach out to many possible, as yet unacquired assets.

This is a low-ball offer for sure.

Sit tight gents.

[buy curious] 08/2/2017 13:20

Yes, as the actual share price disconnects from offer price negatively, this represents skepticism in the market that the bid will be successful.

If the actual share price went higher than offer price, this would represent rumours of a white knight bidder.

[bountyhunter] 08/2/2017 13:19

from the Stockhouse BB (link in header)

"silverbaronalbe
February 07, 2017 - 06:57 PM 158 Reads
Post# 25813294
Delek wants IAE, hence this offer and they hope to pullit off. But what they have done is started low to bring down the final offer after rejection by shareholders. This offer limits upside of production from Stella on share price. Don't forget upcoming events such as exploration at Harrier and hookup to pipeline mid year. Hookup to pipeline will lower
IAE's cost to approx $10-11.00/boe, which will really increase cash flow. Cash flow for debt and exploration - none of these events are priced in. Rest assured Delek has grasphed these events in their plans. Do not sell - hold for better offer from Delek or another party. Key here is the platform which is a company maker it itself."

[bountyhunter] 08/2/2017 13:14

yes I agree,
is the market factoring in a failure for the bid as the price is now 117p but $1.95 CAD at the current exchange rate = 119p

[buy curious] 08/2/2017 12:21

So by May, Ithaca will be producing much more oil, connected to the pipeline, and Brent maybe somewhat higher.

So when the instis have to vote on the offer it may look even more derisory.

Still very much in play this.

.

[buy curious] 08/2/2017 09:24

Delek’s full proposal will be presented to all shareholders by the end of March, after which they will have 35 days to respond.

[bountyhunter] 07/2/2017 20:13

true, and that makes the bid look even more unattractive, but could go either way of course - if exchange rates were predictable we would all be rich

[edmundshaw] 07/2/2017 20:06

You won't need 120p right now. CAD1.95 = £1.1838 at the moment.

[freddie ferret] 07/2/2017 16:16

Comment I would make.
Many holders will hold through a nominee, ie your broker.
Make sure your nominee votes your shares the way you want them voted!!!

I think it is worthwhile repeating yesterdays post since it seems to have flushed out a load of new posters.

freddie ferret
6 Feb '17 - 16:47 - 19720 of 19737 2 0 Edit
Umm......

If we all start buying and keep the share price above 120p then institutions that might be inclined to accept 120p will sell to us. Institutions that are not happy with 120p will not be inclined to sell or accept the offer anyway.

Not sure if this is sensible.

[the monkster] 07/2/2017 15:33

90% of those shares not already held by them to make the offer wholly unconditional.

[ziblot] 07/2/2017 15:26

I have to cover this and next tax year so certainly no hurry. Do they not have to gain 90% to force shareholders to sell or where did I get this figure from?

[bountyhunter] 07/2/2017 10:13

Ithaca Energy Inc bid "way too cheap", reckons oil analyst
www.proactiveinvestors.co.uk/companies/stocktube/6857/ithaca-energy-inc-bid-way-too-cheap-reckons-oil-analyst-6857.html

[chesty1] 07/2/2017 08:30

End game not over yet.

[hopeful holder] 06/2/2017 21:37

I suspect another offer will come from Dalek as this one will hopefully be rejected. Gut feel was to sell straight away but I'm going to wait to see how this plays out.

[bountyhunter] 06/2/2017 20:46

no need to put profits anywhere yet, may be best to wait and see if further major shareholders in addition to the two above (see the end of the header) are unhappy with the deal, that's what I'll be doing

[sawadee3] 06/2/2017 19:35

Really interesting posts here today. We were short-changed that's for sure but still better than getting negative news...any day!

Will be interesting seeing where you guys are putting your profits :-)

Steve73 already hinting at ENQ :-)

FPM another popular choice :-)

[edmundshaw] 06/2/2017 19:08

CAD down half a percent today - there goes 5% of the bid premium...