More reliable measure of performance than EPS
Those focusing on EPS must be new to the energy industry. For decades cash flow has been the real measure to look for since there's a lot of finagling that happens to determine earnings - depretiation, amortization, depletion, etc. On another note, there is no doubt whatsoever that IAE has a strong financial position wrt debt. Cash flows at current production rates will continue to be strong, and will pay for the bulk of capex foing forward. In the middle of next year we will likely see a transformed company with double this years production and massive cash flows. My cash flow models indicate a very small per share hit due to production being delayed to mid 2015. The nearly 20% pull back from June highs provide a good buying opportunity as long as no macroeconomic forces intervene ala 2008. We are currently at a 4:1 cash flow multiple, which is reasonable if you discount the huge increase in production due next year. Discounted NPV calculations based on predicted cash flows will show you very quickly that IAE is undervalued at this price and in fact should double from here as the new production is derisked.
Some times I wonder if the immature name calling and shallow analysis on this board is an intentional attempt to both obfuscate the facts and derail intelligent discourse. If you can converse intelligently on the subject you will be more persuasive and at the same time force everyone else to raise their level of discussion. I welcome any intelligent conversation whether positive or negative, but neither mindless chearleading or bashing will get anywhere.