Member Info for Somekindofnut

Sorry, 81.9 million.

Druss, Delek have 61.9 million shares. It's on Ithaca website. Rule 26. http://www.ithacaenergy.com/investor-relations/shareholder-information

I just had look at what Ithaca say about the Austen purchase which hasn't been finalised, but they say they it will cost "under $6million". The independent report says it has 4 million proven and probable barrels. And Cannacord report it's risked value is $20 million. Unrisked 4 times as much. Not a bad bit of business. Anyway, more acquisitions will help share price, even if development of them would be years away.

Main thing is safety of course. Shipping forecast for today put fpf1 in a force 11 violent storm, so one step below a hurricane. http://www.metoffice.gov.uk/public/weather/marine-shipping-forecast#forties Outlook for North Sea a bit better, according to Met office. Should blow over by Monday. "Widespread gales or severe gales Thursday evening and overnight into Friday, with storms possible across Fair Isle. Near gale to gale on Friday, easing on Saturday with occasional strong winds on Sunday" I don't know how much outdoor work there remains to be done? But I'd imagine they are just monitoring everything just now.

I don't think you can easily tell whether corrected late trades are buys or sells. I'd guess that the trades over a quid are actually buys and those under sells. So most of late volume is buying.

I think it was about the 12th last year we got a trading update. Seems reasonable to imagine a trading update this week and they'll give guidance that first oil will be in next 2 or 3 weeks. Market would respond positively to that imo.

£1 is psychological barrier imo. As was $1.50 cad-about 90p- and we got stuck there for a bit. I can see us moving up again on no news once we shake off some more weak holders. But big crude inventory fall has been offset by big gasoline inventory gain today on official statistics. So Brent has lost today's gains since 4pm.

Brent's fallen sharply to $55.67. I think on increased Libyan production? Seems over reaction, only up 85,000 on last month.

Reports that Kuwait has cut has caused the spike to $58 IMO. As you say more reports of countries following through on promised cuts should follow and keep boosting oil price. Fast Ft: "Local media reports today suggest that Kuwait has cut its output by 130,000 barrels a day to 2.75m a day, holding up its part of the deal to limit production among Opec’s 13 member and the 11 countries outside the cartel, including Russia. Brent crude has now more than doubled since hitting a 12-year low of $27 in January last year. The much-awaited production deal means “the variations between despair and euphoria should be much less extreme and thus so should the variations in oil prices”, said Bjarne Schieldrop, chief commodities analyst at SEB."

So you thought you heard a rumour and pretended to have a contact on board to get attention? Sarge123 says he has specialism in start up and that at this stage with the junction boxes sorted, start up should be straight forward. I'll be phoning Ithaca tomorrow asking them to clarify.

Nothing inside about it? So you don't have a contact on board the rig? This is from an old article. I've snipped it to fit: "A private investor has been fined £15,000 by the Financial Services Authority (FSA) for posting price sensitive stock information on a bulletin board, which he picked up by chance while visiting the house of an acquaintance."<snip> "On the first occasion he saw notes disclosing that several leading car brands, including Citroen, Mercedes and Rover, were set to offer Trafficmaster's Smartnav system. An FSA statement said: 'Mr Isaacs memorised this information while his acquaintance was out of the room and posted it on internet bulletin board ADVFN on 3 September [2003].' "<snip>"On the second occasion Isaacs saw a set of minutes that said Trafficmaster's forthcoming interim results were likely to be 'slightly better than expected' and gave further details of Smartnav transactions. "<snip>" "However, a spokesman for the FSA said the outcome of the case would almost certainly have been the same even if he had not owned any shares. "<snip>" FSA also said that had Isaacs not cooperated so fully with its investigation the penalty would have been significantly higher. "

BfromL, Sarge has already explained why what you said your "contact" said is likely to be false. Maybe you want to explain why you are so keenly trying to spread what you say is inside information? Posting inside information would be market abuse even if you hold no shares. If your "contact" exists, you might find yourself with a big fine.

Thanks Keith. Im not trusted to post linky. Happy New year.

Big bench has left the buiIding. I don't think 2017 forecast is worth stressing over. 20k, 25k these are very broad stroke numbers and critically we don't know the proportion of gas this includes. But 14th November they said "Production set to more than double to 20-25,000 boepd and unit operating costs to reduce to under $20/boe with start-up of production from the Stella field". In order to produce 25k boepd over the year they would need to exceed that a lot of the time to allow for downtime. So you can both be right. When fpf1 is fully operating Ithaca could be doing 3x 9 =27k boe pd. But average for year could be nearer 20k boe pd. I hope not. Ithaca interest in the oil capacity of fpf1 is 54.66% of 38k =27k bpd. Then there's the gas (another 7k boe pd). That's 34k boepd. They have previously refered to the 2017 Stella production forecasts as "derisked". Conservative then. So I still hope annual production is nearer 25k than 20k. If other fields do 9k, surely we can hope for more than 11k from Stella? Especially when it's capable of 34k boepd. IIRC the five wells for start up flowed at 54k boe pd. Best just wait and see imo -we'll soon get some financial projections early in 2017 they said. Anyway Im even boring myself today. Hope you have a good new year and many more spanked monkeys.

If you think that why have you invested here? Its tax efficient to pay staff in shares rather than cash. Worth more to them. And it suits companies to award shares rather than cash -particularly in a growth phase where cash is scarce and it'd rather invest its cash in the business. And awarding options is supposed to be good for loyalty. Or maybe you expect people to work for Ithaca for free?

What's pathetic? Standard stuff imo. The number of shares under option goes down by 400,000 so number of shares goes up by 400,000. There's 24 million shares left under option, so best imo get used to many more announcements when these too will be converted into shares!

The confusion I think is between the average production being forecast for 2017 and the actual capacity. The average production for 2017 has to factor in that FPF1 hasn't started up yet and downtime while tankers are being used. Production for 2018 should therefore be significantly higher. If you Google this text, you'll find this is a quote from Ithaca news release: "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. " I calculate 85 mmscf/d is 13k boe/d. So capacity of FPF1 is 38 + 13=51k boe/d.

I understand main problem with Solan I believe is that they used the Keppel shipyard in Singapore that we discussed here yesterday. This is quote from poster surelooksgoodbet with post 19038 on advfn iae board: "Solan was a completely different story. It was not even construction complete when it left the yard never mind commissioned. I was involved with final completion of Solan and I can categorically say it was the worst designed, implemented and managed project I have ever known." I can't post links, but Im sure you can find it.

I think they'll update market in first two weeks of January. They need to imo, to avoid IR getting swamped with phone calls. Share price has obviously made big gains this year despite extra delays. So as long as they say progress is being made, junction box problem addressed, niggles being ironed out, that we are NEARER first oil, then market will take it as positive imo. Everyone hopefully understands that weather changes, its a high tech factory in a difficult environment (North Sea) with one of the world's tightest health and safety codes, problems emerge and timescales are just estimates.

I don't think anyone has said fpf1 is producing now or will be producing 25,000 bbl a day next week. Last estimate was from Petrofac who said first oil in January.