RE:Another delay is not acceptableExcellent post Londoner7! Same goal for me...
On my side I may respond to:
- "These consistent delays have cost shareholders lots of money"
I would not have like to see our precious oil being sold at 2016 average price. I think the actual brent trend will stay and the delayed oil will sell at a much higher profit.
- "Repeatedly we have seen the value of our investment decline due to announced delays"
Ithaca followed the other oil stocks with the major decline in oil price in the same periode.
- "Today we languish in the low $1.60s"
We touched 0.33 CAD one year ago, following the industry trend. At $1.70 this afternoon, It's a 500% recovery in about a year. Personnally, I kept buying every month...
- "To say "another delay is fine" is misguided"
The news about JBs was not good as this thing sould have been spotted at the shipyard and was raising the specter of more issues. If they end up in mid january saying that they need a couple more weeks to complete and they confirm that everything else is ready for first oil, that would be good news to me. That's what I expect.
- " Petrofac is no longer responsible for further delays"
They are responsible for FPF-1 huge building delays. Aren't they for issues found after delivery? I think both parties wanted to send FPF-1 before the coming winter to ensure a safe sailaway and anchoring. Quality Control responsability around it? I don't speculate.
All in my personal opinion.
Best year ever to all!