Member Info for KeithR39

just joking guys, I really appreciate your input, which is way above our canadianBB, especially from my big bro Doubler who's fighting on the ground...

We canadians finished $1.79 or £1.085, can you beat it today? I think we lead the way, like in WWII... Cheers :)

OLYMPIC OCTOPUS destination STELLA FIELD, when we pass the mouse on the ship: http://www.marinetraffic.com/en/ais/home/centerx:0/centery:57/zoom:7 So, seems like lot of activity now...

Hi laws8, at the time I posted vos pace was still showing FPF1 as destination and olympic octopus doesn't have FPF1 as destination (going to be or already gone?...). Anyway, some activity cranking up...

Well, the guys are not so wrong, at least 2 are coming now: OLYMPIC ORION: http://www.marinetraffic.com/en/ais/home/shipid:308693/zoom:10 VOS PACE: http://www.marinetraffic.com/en/ais/home/shipid:2014791/zoom:10

last year's 2015 financial results were out on march 23rd http://www.ithacaenergy.com/media/news

Bang on Doubler. I'm constantly adding since years now and finally last year's drop turned out to be a great opportunity to pile up at cheap price, but gotta admit it's been a bit tough on the nerves...

The Gekko!! I may add that stucksluut was tagged as the bipolar of the canadian SH Bullboard, surely linked with his daily side of the trade...

I've note that cash flow is mostly used for growing oil companies because of reasons highlighted by londoner7. Depending on the perception of the viability of it AND the market mood for the sector. Valuations normally range between 3 to 7x cash flow. imo, we reach max cash flow at the 2nd Q with stella and then the reservoir decline rate will become very important as it will tell more about the size of the field. Don't forget that the 2P estimate for the reservoir size is conservative and the real result can vary substantially toward the 3P estimate. And Satellites fields added to Stella will add up substantial value, plus Harrier developments in 2018, plus a brent price which will probably go higher during that time...simple like that!...ALL IMHO...great exchanges guys...

Good points Mostyn. I may add that Trump intend to revisit the US deal with Iran, which turned out to be a one way deal. Obama gave everything and there is still no serious inspections on the ground...That could be a serious turning point, imo...

This RNS is about good confirmations, very good to me. Does 2 or 4 weeks change the fundamental? well, you can sell, the market sees it another way, up about 2% now...

Great post Londoner7! The new delay is lowered to a couple of weeks or so and we have confirmation that everything else is ready, which is very good news to me... By that time, brent price could be higher and a startup RNS in the RRSP february month could add a boost. And Harrier is showing up... In my opinion, this little detail is significant: "The net capital expenditure associated with execution of the development over 2017-18 is approximately $75 million, equating to a development cost of significantly less than $10/boe1. This represents a cost reduction of approximately fifty percent from that originally forecast. The substantial reduction in capital expenditure is driven by both detailed well engineering design work that has enabled the move away from drilling two individual wells to one multi-lateral and securing attractive contracting terms across the supply chain." All imho, the stock is up about 1% in London...

From Londoner7 on the canadian SH board, a must read: http://www.stockhouse.com/companies/bullboard?symbol=t.iae&postid=25697961

Stella is about 300km NNE from the quake

"There have been no reports of the earthquake having been felt by people on land...An earthquake of a magnitude of 4 occurs in Britain on average every two years. The North Sea is more active for earthquakes than the mainland of Britain." from the article

Thanks sarge for sharing your experience. I also worked on a big project at a shipyard for a few years (not a rig) and I suspect that they voluntarily skipped some final checks that could be performed at sea because the north sea winter weather was coming and the window was slowly closing for a safe sailaway and anchoring. Normally the QC before departure would have spot the junction boxes. Just an opinion...Thanks guys and happy new year!

"The FPF-1 will be modified to process oil and gas from the GSA Fields and will be located in the vicinity of the Stella field. The processing capacity of the vessel will be 38,000 barrels of oil per day ("bopd") and 85 million standard cubic feet per day ("mmscf/d") of gas. " http://www.ithacaenergy.com/media/news/greater-stella-area-development-concept-select

Up to july the estimated added production net to ithaca was 16k boepd. So, actual 9k + 16k = 25,000 beopd net to ithaca, which = 2.78 times, which is closer to 3times than 2. Then recently they lowered the guidance to a 20 to 25k beopd range. July NR: "The additional production contribution resulting from the start-up of Stella during the year will depend on the exact timing of first hydrocarbons from the field. Prompt ramp up of production is anticipated following first hydrocarbons, leading to an expected initial annualised production rate of approximately 16,000 boepd net to Ithaca." http://www.ithacaenergy.com/media/news/q2-2016-operations-update

just arrived on site, could be the awaited messenger... http://www.marinetraffic.com/en/ais/home/shipid:2014791/zoom:14

Somekindofnut, very sound words, Mostyn words had been relayed to the canadian BB and I took it seriously for a moment...But Mostyn, your posts are appreciated from my side, as the ones from my big bro bigbench, jmo...Merry Christmas to the big family, best wishes for 2017...