Ithaca Energy Share Discussion Threads

[dogwalker] 03/5/2017 10:03

'Clever'? 'Lucky with hindsight' more like.

[galeforce1] 03/5/2017 09:07

bounty

Cash seems to have been paid out by some brokers and not by others. Hopefully it will all be paid out be the end of this week.

The spike up in the GBP/CAN$ exchange rate in the last couple of week to 1.77 is unfortunate. It was more like 1.66 when the deal was announced. The clever thing to have done would have been to sell the whole lot immediately, on day one. I sold some but not enough.

[bountyhunter] 02/5/2017 11:54

good question, can't see it anywhere in Delek's 80 page bid circular!

[galeforce1] 02/5/2017 10:36

When do we get the CAN$ 1.95 cash per share?

[bountyhunter] 01/5/2017 09:26

cheers Steve, you too
...btw I did have some Tesco corporate bonds paying 5% which worked out well as I got the coupon for 3 years and then sold for more than I paid for them before maturity, bonds are a little boring though but good to have some in the mix!

[steve73] 01/5/2017 05:32

thanks for your thoughts bh..

I'm really anti big pharma - too much collusion with the medical practitioners for my liking. As I now live outside the NHS, I self diagnose and self medicate, and generic drugs are available, adequate, and cheap - seems to be working so far... LOL.

Just checked the BP & Shell(B) yields - currently 6.97 & 7.05%, (my pre-brexit buys are just over 8%). Since the divs are both paid quarterly in USD (0.1 & 0.47), the share price tends to vary almost directly with the USD/GBP rather than with the Oil price. Only a sustained increase in OP is likely to push up the SP's in anticipation of a dividend rise. Otherwise hope the GBP stays weaker than where you bought them at & keep banking the dividends.

I've recently bought a few of the oil co retail bonds (ENQ1 & PMO1). These pay fixed coupons - ENQ1 now at 7% par (although currently accumulating rather than paying out cash) and PMO (post restructure) will be 6.5% par, so they actually pay a bit higher at current prices (8.8,7.4%). Probably a little riskier than BP/Shell but they do have priority over the underlying shares and there's also the par repayment if you hold to maturity ('23 &'21) so effective YTM's of 11.6 & 8.4% APR). Good for your buy and forget drawer!!

All the best - enjoy your bank holiday..!

[bountyhunter] 30/4/2017 17:48

Steve, yes the banks are becoming more interesting I agree especially if interest rates do start to rise. Lloyds looks like one of the best prospects imo. The larger pharmaceuticals like GSK and AZN are also a pretty safe bet imo with life expectancy ever increasing.

I didn't realise that the yield on BP & Shell was so high although I do hold RDSB as a result of the BG takeover. Will have more cash to invest soon of course when Delek have finished with IAE. I should really put that somewhere safe like NG but may well end up reinvesting some back into the O&G sector where I like SQZ, FPM and SDX, as well as TRIN and IOG as more speculative investments.

The biochem sector has always been of interest to me and I have a few OXB although more risky than O&G.

Other than that I tend to be diversified into fairly safe bets nowadays as I need to ensure that I retain a pension pot to supplement my existing work based schemes!

Good luck with PMO btw where I still have an interest although now reduced as it's become more risky I think due to the high level of debt although they do have some good assets as well as decent existing production.

[steve73] 30/4/2017 03:30

bh, I'm definitely overweight in PMO...although believe it will eventually come good!!

But I really do believe in the Energy sector, (specifically O&G). Energy is the enabler for the modern world. There is hardly anything we need or want that does not require an external source of power. (Raping the worlds Hardwood rainforest's is about the only thing that I can think of, but even that require power saws, haulage wagons, and sawmills...!). You could even go so far as to simplistically say that the cash cost of everything we consume can be represented in terms of energy input.

Even renewable power requires a considerable investment in upfront capital costs, although thereafter it is largely very low cost (but storage capability which becomes more necessary as renewable share increases probably will have higher ongoing costs). Nuclear falls into a similar category with VERY high upfront cost and relatively low ongoing cost. Oil and gas also entails relatively high upfront costs, and high ongoing costs, but the real downside is almost certainly anthropogenic climate change as a result of CO2 emissions.

O&G will get largely replaced over the next half century, in the same way that coal is being replaced now, but IMO there is still a window of opportunity for the foreseeable future. Even BP & Shell offer a generous 7-8% yield, which is where I'm tending to switch more of my retirement savings into, from the higher risk explorers.

I struggle to convince myself of other sectors that can offer such a reliable future as energy, although I do admit to diversifying a little into the UK banks post the Brexit referendum, which is recently starting to yield some growth.

Any other suggestions gratefully received..

[bountyhunter] 29/4/2017 20:57

Delisting from AIM shouldn't happen until after a general meeting where 75%+ of shareholders have voted to delist but I guess liquidity could be reduced before that time unless Delek are moping up the shares although I'm not sure if they are allowed to do that.

"Any cancellation of a company’s securities on AIM will be conditional upon seeking shareholder approval in general meeting of not less than 75% of votes cast by its shareholders present and voting (in person or by proxy) at the meeting."



Looks like you sold at the right time Steve with the benefit of hindsight, although sorry to see what's happened to PMO recently - I did well a few years ago there but not so well more recently. I guess there's always some risk in the stock market whatever the investment decision. Having seen extreme volatility on a number of stocks over the last 20 years (and not always when expected!) I tend to spread the risk more widely now than I used too although I'm still overweight in the oil & gas sector.

[steve73] 29/4/2017 03:14

Anyone who hasn't accepted should be able to sell in the open market right up until the closing day. You might get a little less (typically 0.25-0.5p), plus dealing charges from your broker, but you get the cash immediately and can redeploy it elsewhere. If you accept you may have to wait a couple of weeks more for the cash to clear.

[freddie ferret] 28/4/2017 16:46

Are you being served?

Going down.

[hopeful holder] 28/4/2017 16:30

I've sold mine on the open market. Seemed easier than to wait.

[kiqbal] 28/4/2017 16:09

I asked IG what's worst case scenario and what will happen since I did not accept:"In the worst case scenario you could be left with worthless stock.It is anticipated, though not guaranteed, that there will be another offer period which non accepting shareholders could tender their shares. Now this offer period has closed there should be further announcements regarding the offer in the near future."What should I do??

[mikeelkin] 28/4/2017 16:00

As the offer was extended to 3rd May I presumed that was the deadline to accept the offer. Now I see that I have missed it and the default was not to accept it. Does anyone know what will happen with my shares as I have unwittingly declined the offer?

[pvpower] 28/4/2017 12:40

I phoned First Direct on monday - all sorted now.

[farmscan] 27/4/2017 07:51

You can also email the acceptance form, as I did to my broker, (Jarvis) for an immediate action.

[wildrider7] 26/4/2017 10:07

tux223
you can accept the offer on line on the TD direct website
go to menu accounts > corporate actions
you should have a IAE corporate action that relate to accepting the TO
just add thenumber of shares you have

Latest Response Date 23:59 27/04/2017

hope this helps

[bountyhunter] 26/4/2017 07:37

no problem with my broker re accepting during the extension period but I'm not with TD

[tux223] 25/4/2017 22:56

I have yet to hear anything from TD Direct concerning the extended offer and being able to accept it, although I sent them an e-mail on Friday about it.

Selftrade notified me today, with tomorrow as the new acceptance deadline.

Its all over bar the shouting, but is anyone else shouting at their broker?

[whiskeyinthejar] 21/4/2017 15:24

I've noticed Malcy has mentioned putting Savannah and Trinity on bucket list at different times. But Im not keen on Savannah (too much corruption and oil theft in that part of world imo).

Malcy mentioned putting Trin on list here (but I think restructuring came too late to make 2017 bucket):



He also said Bowleven could also be leaving the list which could free up another space.

[husbod] 21/4/2017 11:52

Steve - part of what I sold earlier went into PMO at a little higher than your price so also feeling peeved. Really don't know whether it will come good but assuming poo doesn't tank, and there are some big bears around, they should pull through. I'd bite the hand off anyone who offered a squid a share though!

Might put some of the proceeds into BP or Shell just for the divi but only in my and the better half's ISAs.

Good luck to everyone here in whatever they decide to do.