Ithaca Energy Inc. | StockChase
113
Ithaca Energy Inc. (IAE-T (Dead))

Last Price Recorded: $1.9500 on 2017-06-07

ON STOCKCHASE SINCE Aug 2008

Delisted June 2017

oil/gas

Ithaca Energy Inc.


Signal Opinion Expert

2017-01-18

HOLD
Ithaca Energy Inc. (IAE-T (Dead))

This has a stellar project in the UK. They’ve had lots of delays in getting the platform, and basically there was a lot of expectations for them to have a massive increase in cash flow a long time ago. It does look like it is going to hit this year, even with another delay. They’ll probably get production going substantially above previous levels. The stock is very, very cheap. They’ll take the cash flow and bring down debt, and the stock should get re-rated. There is plenty of potential if things go right.

oil/gas
Peter Hodson

CEO & Head of Research, 5i Research Inc.

Price: $1.670
Owned: Unknown

2016-12-22

COMMENT
Ithaca Energy Inc. (IAE-T (Dead))

This is a North Sea play. Their biggest field, Stella, is expected to come online in January. Assuming it comes online as planned, the stock looks very cheap, trading at about 4.5X debt adjusted cash flow. Its peers are trading more at 6-8 times. Expect there will be some re-rating once the Stella field comes online.

oil/gas
James Hodgins

Chief Investment Officer, Curvature Hedge Strategies

Price: $1.530
Owned: Yes

2015-01-14

COMMENT
Ithaca Energy Inc. (IAE-T (Dead))

Had really liked management, but they had rebuffed a couple of takeover offers, so he sold his holdings. The North Sea is an expensive place to produce oil. They are prudent managers, so he expects they probably have a third to a half of their production hedged for 6 months to a year.

oil/gas
Michael Decter

President & CEO, Lawrence Decter Investment Counsel

Price: $1.120
Owned: No

2014-07-21

DON'T BUY
Ithaca Energy Inc. (IAE-T (Dead))

Base building through mid-’13 to mid-’13.  Now it is going through a horizontal trading range.  $2.30 is important support.

oil/gas
Ron Meisels

President, P & C Holdings

Price: $2.500
Owned: Unknown

2014-06-24

DON'T BUY
Ithaca Energy Inc. (IAE-T (Dead))

It should be getting Brent prices, but he has never been a fan of the North Sea.

oil/gas
Mason Granger

Portfolio Manager, Sentry Investments

Price: $2.660
Owned: No

2014-05-27

DON'T BUY
Ithaca Energy Inc. (IAE-T (Dead))

(Looking for a short term trade.) Had a couple of tests of just under a $3 resistance point. Couldn’t break that and the most recent support of $2.54 was take out. Technically he would be a little nervous of it and would like to see it break $2.50 before getting too excited.

oil/gas
Keith Richards

Portfolio Manager, ValueTrend Wealth Management

Price: $2.470
Owned: No

2014-05-14

SELL
Ithaca Energy Inc. (IAE-T (Dead))

Believes this is worth more than what it is trading at. He exited his position because he was very frustrated that they didn’t take any the offers that came their way. Although he has a high regard for management, one of the issues is that management is well paid, but they don’t own a lot of stock, so there is no big incentive for them.

oil/gas
Michael Decter

President & CEO, Lawrence Decter Investment Counsel

Price: $2.490
Owned: No

2014-04-16

DON'T BUY
Ithaca Energy Inc. (IAE-T (Dead))

Was supposed to be a takeover quite a while ago and he lost patience with it. This one always seems to be next year’s story.

oil/gas
Jerome Hass

Portfolio Manager, Lightwater Partners

Price: $2.650
Owned: No

2013-12-16

COMMENT
Ithaca Energy Inc. (IAE-T (Dead))

Essentially a play on North Sea oil. A development company that just manages to find ways to never deliver, it is always next year’s story. He just got tired of the name.

oil/gas
Jerome Hass

Portfolio Manager, Lightwater Partners

Price: $2.700
Owned: Unknown

2013-12-03

SELL ON STRENGTH
Ithaca Energy Inc. (IAE-T (Dead))

Buy at $2 and sell at $2.75-$3.  The Street loves it.  Trading well below NAV.  It could be in play.  Take a little profit above $2.60.

oil/gas
Irwin Michael, B.Com, MBA

Portfolio Manager, ABC Funds

Price: $2.580
Owned: Yes

2013-11-15

COMMENT
Ithaca Energy Inc. (IAE-T (Dead))

Stock has done well and still has lots of upside in bringing on new production. If you want an alternative involved in the UK North sea, look at. Sterling Resources (SLG-X). (See Top Picks.)

oil/gas
Josef Schachter

President, Schachter Asset Management

Price: $2.460
Owned: Unknown

2013-11-08

BUY on WEAKNESS
Ithaca Energy Inc. (IAE-T (Dead))

Exited his position a couple of months ago when they announced the Stella results and the stock bumped about 30% in a month. It always looks cheap. Because it is the North Sea with $50 million per well, some times it takes a long time. He would look at buying it back, but closer to $2. He can see $3.20 but based on track record, that would be the 2015 target.

oil/gas
Bruce Campbell (1)

President, Campbell and Lee InvMngmnt

Price: $2.440
Owned: No

2013-11-07

BUY
Ithaca Energy Inc. (IAE-T (Dead))

There is continued development of the Greater Stella field in the North sea. Production has been pretty strong. Feels this is a pretty solid name. Had a few challenges with operational misses a few years back but, in the international space, this screens quite well. Looks quite attractive.

oil/gas
John Stephenson

President & CEO, Stephenson & Company Capital Management

Price: $2.380
Owned: No

2013-09-20

BUY
Ithaca Energy Inc. (IAE-T (Dead))

North sea oil producer. Feels it has an NAV of $3-$3.50. They were under a lot of pressure. When they took over Valliant energy and paid it off in stock, a lot of the Valliant shareholders liquidated their stock. In the Greater Stella, the 1st well came in at over 10,000 barrels a day and they have 3 or 4 others, which got people all excited. The Valliant acquisition took them up to a higher level and it should be and could be a takeover candidate, but it is no longer a small cap, it is now a mid-cap, which should gather a lot of people’s attention. Cheap.

oil/gas
Irwin Michael, B.Com, MBA

Portfolio Manager, ABC Funds

Price: $2.470
Owned: Yes

2013-09-11

COMMENT
Ithaca Energy Inc. (IAE-T (Dead))

Excellent flow results coming out of the 1st well from Stela. There are 4 being drilled. This justifies the $3+ NAV so it is one of the cheapest. You are paying about 1.5X cash flow which is ridiculously cheap. But, it’s North sea so it is riskier and it is $20 million a well. This will be quiet now for a couple of months.

oil/gas
Bruce Campbell (1)

President, Campbell and Lee InvMngmnt

Price: $2.350
Owned: Yes

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