RE:RE:On the European Union VoteErrollPerroll
Looking good for Ithaca as far as I can see. After this week we move into the departure window as recently stated by Ithaca. Should begin sea trials early in June, then head off to the North Sea. I am increasingly of the view that the oil price will take off from the Autumn. If Ithaca can stay independent for that long then we should see a much higher share price and/or a much higher buy out price.
It fascinates me that the low oil price for years message put out by the oil majors for their own purposes was so readily embraced by the masses and even now when all the unfolding evidence points to an approaching supply crunch many commentators cling to the long term $50 oil assumption.
What is your take on Ithaca's position right now? Also, if we do have an Ithaca sale in the early stages of the sector recovery, i.e. later on this year, where else within the sector would you look to invest? My other sector holdings are Petrofac, Hunting, Faroe and Plexus so I would probably just top up these, although I am also interested in the US driller Helmerich & Payne. Your thoughts here would be of interest.
Doug