MACKIE say BUY IAE . . .FYI
Ithaca Energy Ltd. (IAE – TSX) BUY; $1.20 Target
Current production of ~9,000 boe/d (97%) oil expected to increase to ~25,000 boe/d (67%) in Q3/16. Completion of the GSA production hub and start-up of the Stella field on track for Q3/16. With the infrastructure in place the company can continue to grow through the tie-in of the company’s portfolio of satellite fields in the GSA.
We reiterate our BUY recommendation and we have increased our target price to $1.20 from $0.80
Best GG - - Never listen to a FERRET!!!