Malcy on IAE - FYI Ithaca Energy
A small update from Ithaca this morning which adds a little to our current sum knowledge but confirms its gilt edged credentials in the sector. First half production was 9,400 boe/d on average and of course Stella will contribute substantially in the second half. A very slight fly in the ointment appears to be another small delay in FPF-1 which is now slated to be on the move in late July and producing in early 4Q 2016. However this is semantics in the overall nature of things, by the end of the year Ithaca will have a serious increase in revenue, be paying down debt with little upcoming capex and continues to tick all the right boxes.