This really is extraordinary! The oil hedges are probably worth more than the Market Cap. So all the oil production, assets and licences are worth nothing. If ever a Company was vulnerable to a takeover, here it is, Thank goodness for the blue chip fund shareholders to moderate this possibility.
8 Dec '14
IAE getting SLAPPED in Canada
Oil heavy TSX getting THUMPED in Canada today. IAE has CEO and Directors BUYING! GOLONG has been BUYING as well under C$1.00. Crafty GOLONG!
5 Dec '14
http://uk.advfn.com/cmn/fbb/thread.php3?id=13065905 Indeed in our view, there appears to be an asymmetric risk/reward in many oil-related names, and we have recently reduced our positions in Royal Dutch Shell and Dragon Oil, and sold our holding in Ithaca Energy, while taking advantage of the low oil price to add to our holding in TUI Travel.”
5 Dec '14
Even better price for you! The $20 per barrel was from the last set of accounts - but that is cost of production, not what they need to cover operations overall, will be a lot higher than that, same with all other oil companies. Taken from here in the financial summary: http://www.ithacaenergy.com/system/files/uploads/financialdocs/20141113_ITHACA_Release_Q3_2014_Financial_Results.pdf
5 Dec '14
RE: taken some
57 is even crazier. Where did you get $20/bbl. If so, it would be prudent to delay CAPEX and build up cash pile.
4 Dec '14
at 61.75, seems a crazy level even with oil down, given hedges here into 2016 and production cost of under $20 per barrel on existing production. Obviously am aware of the delays and escalating costs though.
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