Ithaca Energy Share Discussion Threads

[s34icknote] 25/3/2024 12:23

When does this go ex div ?

[popit] 23/3/2024 17:16

When are the results due here?

And is the dividend expected to be kept at the current level for this year and next year?

[lawson27] 15/2/2024 11:15

Joined you for the recovery here, GLA

[ashkv] 15/2/2024 07:59

Share Price : 129.5p
ITH share price vs 52 Week low of 123.2p on 12 Feb 24: 5.11%
ITH share price vs 52 Week High of 194.6p on 17 Feb 23: -33.45%
Brent : $81.50
UK Gas: $60.50
GBPUSD Exch Rate : 1.255
Market Cap GBP : £1,303,495,200
Market Cap USD : $1,635,886,476
Net Debt (FY 23 Trading Update): $572,000,000
Enterprise Value USD (EV) : $2,207,886,476
ITH 2023 Average Production (Bpd) : 70,200
ITH 2022 Average Production (Bpd) : 71,403
ITH Q4 23 Actual Average Production (Bpd) 67,656
EV/Barrel 2023 Average Actual Production: $31,451
EV/Barrel 2022 Average Actual Production: $30,921
EV/Barrel Q4 23 Actual Average Production: $32,634
Decommissioning Costs/Asset Retirement Obligation HY 2023: $1,710,562,000
EV Per Barrel Including Decommissioning Costs-2023 Production Guidance: $55,818
2023 Full Year Dividend Yield: 24.45%
Final 2023 Dividend Yield 8.13%
Shares Outstanding : 1,006,560,000

[fabius1] 03/2/2024 10:36

Eddie

Might well have got the Canadian bit confused with another oily. Mighty quiet board here. Thanks.

[eddie1980] 02/2/2024 15:55

Yes it is/was.

Apparently a lot of other merged entities/assets whilst in private hands so a different beast now to when it was last on UK stock exchange. (Don’t recall it going to Canada but it was delisted from UK.

[fabius1] 29/12/2023 19:49

I held Ithaca a few years back and it was taken out and I recall it was relisted on the Canadian Exchange. Was the same company delisted and relisted on the FTSE, and if so, why? I did a quick google but nothing obvious came up. Be grateful if some kind soul could help me out here. Thanks.

[fabius1] 28/12/2023 12:05

I held Ithaca a few years back and it was taken out and I recall it was relisted on the Canadian Exchange. Was the same company delisted and relisted on the FTSE, and if so, why? I did a quick google but nothing obvious came up. Be grateful if some kind soul could help me out here. Thanks.

[cowie19] 30/11/2023 16:20

Bought an initial tiny position here today.

[pro_s2009] 22/10/2023 04:36

AIM market fast approaching Covid crash lows.........when is the trend going to break and upwards its goes ?


free stock charts from uk.advfn.com

[pro_s2009] 01/10/2023 05:49

North Sea getting interesting again........the wokey greenies are now on the back foot.........Sunak supporting motorists........I think he will go full on develop oil and gas ahead of the election and let Labour go with JSO and all the other loonies.

[tygarreg] 28/9/2023 18:18

And so anti police and pro just stop oil and black lives matter.

[tygarreg] 28/9/2023 17:20

So why has it turned so woke and pathetic virtue signalling anti majority and anti business organisation?

[kibes] 28/9/2023 08:27

The BBC is a leftie organisation with an agenda. It loses no opportunity to push its support of leftie darling subjects such as climate change, net zero, hatred of Brexit, all the LGBTQ+ stuff, diversity and equality. This is why Just Stop Oil nutters get such good publicity and support. And of course it hates oil companies. You will see nothing in support of the Rosebank project on the BBC. And they are absolutely furious that Sunak has diluted the net zero targets effectively kicking the whole thing into the long grass. They have been wrong footed and are just planning how to get their own back. Sunak will have to watch his back.

[tygarreg] 28/9/2023 07:49

I simply do not understand the BBC opposition to the Rose oil field development. We will benefit in taxes and employment from this development that it will produce, net zero or not. Why give that benefit and tax to Saudi when UK can benefit?We will still be using oil in a hundred years from now. Let's get it out of the ground while it's still worth something!

[speedsgh] 22/8/2023 14:56

Shell (LON: SHEL) has whittled down bidders for its southern North Sea gas fields to three final contenders, Perenco, Ithaca Energy (LON: ITH) and newcomer Viaro Energy, according to people with knowledge of the matter.

[p@] 27/7/2023 08:47

Ithaca Energy PLC K2 Successful Exploration Well Results

[maxxy1] 27/7/2023 07:29

PROtaaaaaaard

[pro_s2009] 27/7/2023 07:19

27 July 2023

Ithaca Energy plc ("Ithaca Energy" or the "Group")

Ithaca Energy announces K2 successful exploration well results

Ithaca Energy is pleased to announce the results of exploration drilling at the K2 prospect, located in Block 22/14c of the Central North Sea of the UK Continental Shelf.

Upon entering the reservoir, Ithaca Energy, acting as the operator, discovered that hydrocarbons were present in the reservoir in the Forties member sandstones, with 45 feet of net thickness. Logs were acquired to establish reservoir quality and further analysis of the well results will be performed to determine future activity and the recoverable resources estimate. Ithaca Energy, together with its joint venture partner, have decided to perform an appraisal sidetrack following these encouraging results in the main bore.

Ithaca Energy holds a 50% working interest in the licence with the remaining 50% working interest held by Dana Petroleum.

Alan Bruce, Chief Executive Officer, commented: "I am delighted to report encouraging well results at K2, located in close proximity to existing infrastructure, further enhancing our portfolio."

[ashkv] 20/6/2023 09:49

ITH extremely low valuation mentioned in below article from the Financial Times.



Opinion Lex

Labour/Oil drilling ban: opposition’s plan encourages the wrong flows

Labour’s stance only increases uncertainty and the chance that oil company cash flows leave the UK altogether

A promise to end oil and gas exploration in the UK North Sea should not ease open the production taps. Ironically, that will probably be the immediate result of Labour leader Sir Keir Starmer’s landmark speech on energy policy on Monday.

Labour plans to end the issuance of new oil and gas licences if it gains power. It will not, though, revoke any permits issued before the next general election. Such a move would have caused a legal headache for a newly elected government.

The clarity should give oil explorers the confidence to press ahead in the coming months with large new projects in advanced planning stages. These include the 300mn-barrel Rosebank oil project west of the Shetland islands, led by Norway’s Equinor. But for the longer term, Labour’s proposed ban offers yet another reason for oil and gas investors to do some exploration of their own — outside of UK territory.

Shares in UK-focused oil and gas producers such as Harbour Energy, Serica and Ithaca have fallen dramatically in the 13 months since the UK’s windfall tax was introduced. Valuations trail well behind multiyear averages. Shares in Serica Energy trade at half its already cheap five-year average of 5 times.

The windfall levy, first introduced in May 2022, has raised UK producers’ aggregate tax rate from 40 to 75 per cent. The introduction this month of a complex floor for the levy has hardly improved the mood. Apache of the US is halting UK North Sea drilling despite the recent amendments. Job losses could follow in Aberdeen. Harbour, the UK’s biggest oil and gas producer, already had sought investment opportunities abroad.

True, more companies withdrawing from the UK could create an opportunity for those left behind. Asset valuations are cheap against oil and gas reserves. They may stay so. Labour has previously talked about backdating the levy to the start of 2022, although there was no such mention on Monday.

Many UK-focused companies rely on squeezing more barrels out of existing fields. They often do this by drilling new wells close to assets. These sort of “brownfield” projects could be affected by a new licence ban.

Labour’s stance only increases uncertainty and the chance that oil company cash flows leave the UK altogether, rather than into the cleaner sources of energy the party would prefer.

[anley] 31/5/2023 17:29

today the company publishes its results and BINGO the shares go down.....so nothing new here.

I bet the bosses at ITH can't understand just what is going on in the UK oil/gas sector. Their brokers seem to have pushed them in to a LSE quote at considerable cost but the benefits have been dreadful.

In March - see above - one said that this government just looks stupid to overseas investors. I have friends in Hong Kong who just have funds in Singapore ready to invest BUT ask them when and they look and say - when you have a stable government with sensible policies and a taxation system which allows UK based Oil/Gas businesses to make a sensible return.

We will wait..............

[itsriskythat] 05/4/2023 10:03

Buying started at this level of 160p