malcys blog today..12 Jan 2017 10:14
...Ithaca Energy
An operational update from IAE this morning, all will be revealed in the results but most things are going well here as one might expect. Production last year beat the guidance and this year is 19-22/- although Stella might improve that. Not in the short term as the start up has been delayed again but only to February but that makes no difference. The good news is that Harrier is now under way, a cheap development as it also uses FPF-1 and the GSA infrastructure. Opex is down 30% at $18 pb and net debt is falling too, this will only get better when the FPF-1 finally gets up and running. Still a top stock in the bucket list and a certainty to stay there, amongst the best in show.