Ithaca In Good PositionWith the new hedges in place Ithaca has pretty well protected itself from all the current trouble in the oil industry. With this protection there is no reason why they would not buy some distressed companies that are barely hanging on. If you can wait it out you will see good gains from this price point. 1.5 billion in tax losses and climbing. No corporate tax to be paid until 2020. .65 cents is a steal of a deal on a company that could easily be pumping 25,000 to 30,000 boepd within 15 months. I think well #5 will really set the stage and with that up goes the SP. Time to back up the truck/fill your boots with cheap Ithaca shares.