Member Info for Doubler

Yes I got them interested!

I held a lot at 19p and still hold. The SP is taking its time to realise its potential but we are almost there. Bought another 50k just before the bell.

Would be good to know the name of the tanker(s) contracted to Ithaca. Anyone have any contacts? AIl supply vessels are registered so must tankers be.

It should rise initially, maybe a small drop after, then a steady rise as production increases.

Tried to buy some: quoted 107.2

No news, no volume, no reason for a drop, you might be correct.

They will have to test the surface equipment with hydrocarbons for sure. That is the final step to test alarms and suchlike. The slow build up is to protect the chalk reservoir from "shock" due to high differential pressures. I would expect an RNS on initial flow and an update at the 2016 results on 23rd of March. All looking great.

That makes more sense. One supply vessel is normal.

Unusual to have 3 supply vessels there at the same time.

That's 2016 results I think. Production will be being ramped up and a great story for the market. They like POO and production. Hydrocarbons to surface any day now.

Patience BB. March 23rd will be a big day for us.

Mostyn, It does make sense. I doubt they want any mature assets, they sold one to Enquest today, so a brand new facility next to one of their discoveries would make sense. Plus the decommissioning costs would be very low. Again if they just paid Ithaca a royalty per bbl for using FPF1 as a pumping station this would be lucrative to Ithaca. BP historically have very high drilling costs so to develop a field internally in this climate does not make economic sense. Whatever happens it will be an exciting year for Ithaca and us PI's.

Not sure of the asset: it was a coffee shop rumour, like them all!

I saw that as I have a chunk of ENQ as well. It was a mature asset though which ENQ are into. I worked on Kessog exploration wells 19 years ago so the pace seems to be slow! It is very complex from memory and HPHT. i also drilled the ETAP Marnoch wells. Either a takeover or just pay Ithaca a royalty to pump their oil. By the time BP drill it and tie it back to FPF1, Stella will be in decline. I have witnessed many takeovers in my 35 years in the business so BP buying Ithaca would be no surprise.

Mostyn, I posted this point last week. This asset and the fact BP has said it is committed to the North Sea could add up to a takeover by BP. The only negative might be IAE is a bit small for a BP to consider. However I did witness Shell purchase Enterprise Oil a few years back which was similar.

Occasionally you may use nitrogen to initiate flow by lowering the hydrostatic head in the tubing and riser. Stella has enough reservoir virgin pressure and light enough hydrocarbons that this will not be an issue.

And if someone did buy us that would attract a 30+% premium but the SP will get there on its own in time.

With $60 POO and Stella flowing most likely this week the SP should get a boost. By the 2016 Financial Report in March I can see the SP between £1.50 and £2. I will hand over to BB for a more optimistic prediction.

It can be a fools game but where else can you make so much money this quickly legally? The reverse is also true. With IAE great times will be with us soon. My prediction is the BIG jump will come in March with the 2016 report when we should be flowing at a decent rate. Then. Steady build throughput the year. No brainer.

Yes. Hydrocarbons to surface and test the system before cranking it open. Suspect also they did not want to make yet another optimist call. The tanker on site will be the confirmation and its not there yet so who knows. Suspect early Feb for significant flow.