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
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
HOLD

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

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....

PricePrice
$1.670
Owned Owned
Unknown

COMMENT

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

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 Stra...

PricePrice
$1.530
Owned Owned
Yes

COMMENT

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

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 Inve...

PricePrice
$1.120
Owned Owned
No

DON'T BUY

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

oil/gas

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...

PricePrice
$2.500
Owned Owned
Unknown

DON'T BUY

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

oil/gas

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...

PricePrice
$2.660
Owned Owned
No

DON'T BUY

(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

(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 Ma...

PricePrice
$2.470
Owned Owned
No

SELL

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

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 Inve...

PricePrice
$2.490
Owned Owned
No

DON'T BUY

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

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...

PricePrice
$2.650
Owned Owned
No

COMMENT

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

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...

PricePrice
$2.700
Owned Owned
Unknown

SELL ON STRENGTH

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

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...

PricePrice
$2.580
Owned Owned
Yes

COMMENT

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

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 Mana...

PricePrice
$2.460
Owned Owned
Unknown

BUY on WEAKNESS

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

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 Inv...

PricePrice
$2.440
Owned Owned
No

BUY

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

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...

PricePrice
$2.380
Owned Owned
No

BUY

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

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...

PricePrice
$2.470
Owned Owned
Yes

COMMENT

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

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 Inv...

PricePrice
$2.350
Owned Owned
Yes

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