RE:RE:Brits have weak handsThanks for providing Cenkos's take on this RionsRun. It make perfect sense.
The focus should be on the super outperformance of the wells not a 4-6 month delay. They mid 2014 now its late 2014 for as they say a very good reason.
If this comes on at 35000 boepd verses the 30000, Ithaca's share will be (54.66%) or 19130 plus base production of 12500 gives a total production of 31500.
That folks means that Ithaca is trading at just over 1 times 2015 cash flow (at a average net back of $68). Cenkos is right that any pull back and there should not be much is a great entry point into a stock that is destined to nearly double by mid next year.