RE: Sure would be nice to hear from Ithaca about tI think there are a couple of aspects that will reduce the affect of the proposed, revised supplemental tax charge on Ithaca.
The first is that they have a significant tax loss pool which will defer any new taxes forward several years, probably at least four.
Second, the company will still fall under the "Small Field Allowance" which will shield a significant proportion of profits from the new 32% charge.
Bottom line, it's my opinion that there will be no net affect on the profit margin or cash flow for many years, even after Athena is up and running related to the new tax. By then, who knows what the price of oil will be and who is running Government.
The stock has had a knee jerk reaction to this news and will bounce back when the market recognizes there is going to be little impact on Ithaca. Similar conditions will probably apply to many of juniors including Sterling.
Will open up tomorrow IHMO.
Zorgon