RE:Some One Is Going To Take A Run At Ithaca
the only ones taking a run at iae will be the banks calling loans, lol!!!! no major in their right mind would ever consider this for a number of reasons.
-too many small fields
-even with stella it isn't enough oil to interest them imho
-the debt, the debt and the debt!!!
-increasing liabiltites in the shut downs and clean ups of diminishing fields
-just the plain cost of doing biz in the north sea!!!!
-the stella platform!!!! wtf are the REAL issues with this pig?????
-you got no offers recently when if fell to this level what makes u idots think ithey will now ffs!!
-incompetent magmt has put together one clusterfaack of a company, one takeover and a fairly recent purchase of 2500 bod production and they are almost down to where they were without these additions ffs.
only positive for anyone buying this pofs is the tax write offs and a measley hedged 6300 bod
oh ya and about that hedge, it wasn't managements brillance that put them in this hedge position, you can thank the banks for demanding a guarrantted price to support their loans ffs!!! i remember when this hedge was put in place and brent was at $113, all the pumpers on here were crying what a stupid thing to do!!! and were upset about it, now these same clowns go on about how brilliant it is, how pathetic, i just sit here lmfao!!
cheers ferret