RE:FPF-! Rainbow - Wait a MinuteIt is true that Petrofac have not been great on this project. Timing could work to our favour though. Traditionally Petrofac have been one of the most dependable operators of the UK listed oil services companies, but the last 3 years have been less reliable. My understanding is that they have been gone to great lengths to adress this.
The fact is that previous hiccups have contributed to the current share price for Ithaca. The 6 to 12 week delay is irritating but in Gadansk some exterior work cannot be carried out until March/April, if identified over the Winter.
I think that Stella will pump before Winter and that the oil price will rise steadily from the second half. Unless Ithaca is taken over I expect my £130k in Ithaca to make me over £1M before the end of 2017. Bet against this if you wish but I think that the odds are in my favour.
Doug