RE:RE:IAE may be ON THE HUNT for PRODUCTION on the CHEAP... I am new here so may have missed it but when did Cormorant go down again?
Ithaca is a conservative Company regarding debt thus their new debt facility to me shows confidence. Debt sometimes has a symbiotic relationship with cash flow. I would think somewhere down the line a melding with the over $800 million of free cash flow for 2014 and 2015 put to good use will more than justify my investment.
I would consider this approximate...as the amount of debt contributing negatively to the NAV has changed. You make some good points. Like you I would like to see a focus on GSA. If the right deal surfaces for GSA they could use their debt to increase cash flow. I don't like to get dogmatic about numbers in this particular sector suffice to say this Company seems to be well worth my $2.00 plus sp.
It is estimated that based on the capex guidance for 2014 and 2015 that the company will generate over $800 million of free cash flow over this two year period.
https://seekingalpha.com/article/1732132-ithaca-energy-here-comes-the-production-and-the-alpha
Bill Lehane 03 September 2013 16:28 GMT
Abu Dhabi’s Taqa has said its Cormorant Alpha oil platform in the UK North Sea has returned to full output for the first time since January.
https://www.upstreamonline.com/live/article1336330.ece