RE:RE:The outline presented by Doug2B is very much in line with myHawk
You may well be right and I hope that you are as it would likely mean a higher purchase price than if Delek took out Ithaca.
One thing to bear in mind though. We think of Ithaca as a c£250 - £300 Mcap company as that is what it is now. Roll on a year or so, much higher oil price, debt right down, other fields drilled for FPF-1, acquisitions announced or in the pipeline - if Ithaca is trading on approaching 10x earnings then Ithaca will be a >£2B Mcap company by then, that is why Delek are interested, is that not why most of us are here.
Doug