Comment from Proactive investors Tue 10:35 am by Fox-Davies
Daily Oil & Gas monitor
() – Solid Progress, 2013 to be a Transition Year: Ithaca’s full year results detail what is becoming a seemingly seamless transition in to fully fledged sustainable E&P business. However, progress in 2013 could be checked somewhat by the digestion of the Valiant acquisition, which requires a cash element of 307p per Valiant share. Nevertheless, we believe that barring any unforeseen drop away in the oil price, this hiatus will be short-lived and the Company will be in a stronger position post the completion of the merger. Consequently, we believe that 2013 will be a transition year, and that any weakness in the share price, will be an opportunity to invest in the Company.
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