Totally Agree LongsThe mood is swinging and we have purged out a whole lot of traders in this $2.50 to $2.90 range.
Many longs have waited this out and most will get their $4.00 pus target. By the way .............$4.00 may look pretty cheap 2 years from now??
Now as for the loss of reserves and production from our older fields?????? I have Confidence in the management team that replacing reserves is priority #1. Ithaca will have the cash and the means to make some sweetheart deals moving forward so I am not worried about this one bit.
Remember that Stella will be producing much more than what is written and the reserve increase is also in the cards.
Keep sitting on your hands ..............................good news is on the way.