RE:Well #5 - Reserves Upgrade
The value of the successful Well 5 (flow and size) had been basically built into the price. Maybe a penny or two added today.
Generally speaking, I see Ithaca trading on the price of oil for the next 3 Quarters. There will be minor deviations, up or down based on Company news, real production numbers rumours of takeovers, etc. It won't be surprising to anyone that the reserve estimate will go up. That's all good and fine and it does raise the floor on the lower value of the stock but I doubt will cause a significant move in share price.
The only thing that really matters in my mind is that the platform is delivered without any additional delays and the cash flow potential of Stella can start to be achieved and debt can be reduced.