Member Info for Mostyn

Hate to say I told you so about this recent delay......but IMO it will be the last delay before start up. So Mr Thomas's latest start date should be good. Im very happy about the reduced opex. This will improve the SP outlook even further. Another psychological milestone achieved in getting under the $600m debt level too. And they still hope to get 22000 boed average this year. Very positive I think.

No worries doubler, Weberone, can you answer my last question? Cheers

Ha, yes doubler, im hactastic. Is the 23rd an unofficial rumour on the down low or has anything been printed to that effect. 23rd seems too far away for IAE not to issue an rns given thier own stated timelines, but who knows.

Another day closer to first oil!

Good posts guys. I agree with what a lot of you are saying. But for me "early january" is ambiguous so that could still be next week and then they wont issue an rns at the very time they press the go button. More they will prob wait a few days to see how its going then make an announcement. Either this or at some point in next 10 days they would have to explain if there is going to be another delay. We just dont know yet. Second guessing and needless ramping wont help. IMO But when we do finally get the news of successful startup and safely know oil volumes are as expected, the sp will go a fair bit higher

well sp was up when I started writing anyway :(

Couple of things to think about: - 1. It's only the start of January, IAE said upto six weeks, so give them a chance, they don't need to announce anything yet IMO 2. Knowing a few engineers working for very big firms, in both civil, structural engineering and Oil & Gas. (don't know anyone personally at petrofac, but as soon as the actual engineers realise there is any kind of slippage to the schedule they report to their managers and then clients. From what I've been told it is then upto the client to inform their shareholders and face the anger and any SP fallout. A lot of the time they simply use the engineering firm as the baddie and quite often the engineering firm goes along with this(albeit grudgingly, especially if there is more potential work available). I am not saying this is the relationship IAE have with Petrofac, but I would be amazed if it comes out of the blue to IAE about delays. 3. SP is up today. Happy days

Thanks Keith and somekindofdonut, great posts. Not including any time factors, the potential for ithacas share of daily output from GSA alone could be oil equivalent of 34,000boepd in a perfect environment and pumping full blast. Ok, we are probably not going to achieve this number, but could get close. Its a question of when and for how long. The fpf1 location is such that a lot of satelite fields can be plugged in to the maintain reserves and production. Now add this to our existing portfolio circa 9,000-9,500 bopd and future opportunities and to me we are clearly undervalued.

Actual production will be above 25,000bopd all going to plan, possibly over 30k and IAE will be one of the cheapest producers in the north sea, so we could be looking at close to $40 net per barrell, when oil hits $60. So with my rough calcs, a rough net price of $40 = our current market cap. So currently our shareprice equates to our potential profit, not gross earnings. Company valuations are normally multiples of gross revenue not net. Therefore despite my very rough calcs, I would say we've got plenty to go. IMO

Sorry I cant seem to sound at all positive, But I too think this will be in 150p + territory very soon. Even higher is M & A gossip turns to fruition. Finally from me for a while...... stocksluut, I do actually get laid fairly often, and I dont pay for it either would you believe. All the best.

Some fair points. Just hate it when people get carried away. New years coming so maybe I'll turn over a new leaf. Im not in profit yet, but im confident I will be soon. Many of you miss the point I've been trying to make and im sorry big bench, you've just got under my skin. Thats my problem though not yours. Obviously the majority on here are very pro ithaca and do not want to hear anything but. And thats fine, but how many investors have been in good profit and let greed get the better of them by all the ramping going on. Look at RRR for example. Peeps who bought at a penny had a great chance to sell out at 10 or 15 bagging, and many made money on the way up, but so many kept believing it would never stop and due to major ramping lots of people got sucked in and lost a lot. Some of the the comments aimed at me are a bit harsh, but I accept that. You're welcome to your opinion. I dont think I have ever said anything but positives about this company, except the GSA rig delays.

You add nothing to this board bigbench, you ramble, posting pie in the sky predictions. Especially lately, you clog up the board with nothingness. If you had meaningful information or contributions I would genuinely welcome your commentary. Im positive on IAE like you are,but please can you tone it down a bit. This board a couple of months back was great, but lately its just rampety ramp ramp. And unfortunately a lot of the posters I enjoyed watching converse on iae have left. This board is going the same way as iii's went. I might check that board out again, but it was just ramp, ramp, ramp. You can be a smart arse if you like and pat yourself on your back along with the day traders who post once in a blue moon when there's a spike, but its a real pity because this board for a long while was good.

Currently 1.69 in canada on TSX

Opening in 7 minutes

Looks like its pinging around 1.57 - 1.63 to me, not sure how close to real time this is!

Do you have live tsx prices stocksluut? Im only seeing delayed price

The canadians tend to get news a wee bit before we do on the old grapevine. Historically speaking that is, but I haven't heard anything yet.

Do you just sit on this board all day bb? Haven't you got anything else going on in the world?? Ive got an Ithaca prediction for you. IAE WILL GENERATE SOME FORM OF REVENUE AND INCUR SOME FORM OF COSTS OVER THE NEXT 7 DAYS. mark my words you heard it here first. And when this happens I can say I told you so. But this is nothing compared to your predictions big bench, I cant fathom how you do it. Incredible. P.s. thanks for dragging this board down a few pegs.

Thought our usual mega ramper would have been busy!

With all due respect january, Enquest are heavily leveraged. They have too much debt on thier balance sheet for most peoples liking and will struggle to pay it down or refinance IF the oil price doesnt continue its recovery. Kraken oil is a good asset but is heavier oil and doesn't have the same profit margin the Greater Stella Area offers Ithaca. Ithaca has been able to pay its debt down with out GSA coming on stream yet and the board also have had very good oil price hedging going on. Enquest cant really afford any delays or unforseen costs or events, thier gearing is just too high. Thats why people are avoiding them. IMO