That's 14 out of the last 17 days that we are even or down!!
And Brent is now @ $110.00............................................ go figure. We have a drill bit spinning at Stella and it would be hard to believe that the flow rates will not be in that 10,000 to 11,000 boepd range.
If the first 3 wells that we drill at Stella all come in at the well #1 rate then that will be somewhere in that 32,000 boepd range??? And if the 4th well comes in around that same range then we are talking 43,000 boepd ................................ now that is really getting crazy.
At those numbers Stella alone could be cranking us 18,000 to 24,000 boepd in Ithaca's pocket.
Add on our 12,000 to 15,000 other barrels from our other fields and you get 32,000 to 40,000 boepd in our pockets.
This play out is not that far fetched but the market has no vision for this company .................at least not at this time.
Someone with a vision is going to scoop this company up as this would be a steal of a deal in that $3.50 range.
Lets say 30,000 total all field barrels at $80.00 = almost 900 million in our jeans in 1 year?????
And this does not account for any drilling success anywhere else or a reserve increase which will happen with these higher Stella results.
That is crazy, crazy, crazy!!!!!!! STICK TO THE PLAN!!!!