Important Milestone ApproachingIthaca report on Wednesday.
Management will be cautious no doubt so there is no chance that we will ge given surprise good news relative to Petrofac's latest schedule. Confirmation of expected FPF-1 completion and sailing by the end of Q2 is what we expect and what we are looking for.
It will be interesting to read Ithaca's take on the NS tax changes. When oil hits $100 per barrel, which is probably 10 to 15 months away, the low production costs post stella combined with the NS tax reductions should make Ithaca's profit retention ratio very healthy indeed.
Doug