Are they any good..?



currently 150p to buy.

86p +4.75p

The rise lately with oil price rising last night got the stock up with a GAP this morning and then a higher Breakout

82p - 8.375p
after moving well up yesterday, bad news got the stock down today.............

Ithaca Energy Inc. (TSX: IAE, LSE AIM: IAE) ("Ithaca" or the "Company") provides an update on the status of the on-going Stella field commissioning programme and the expected schedule for start-up of production.

Activities on the offshore commissioning programme for the FPF-1 floating production facility are well advanced and preparation for start-up of the Stella field is on-going. During routine inspections, faults on a number of electrical junction boxes on the vessel's processing facilities have been identified and a programme of necessary repairs is underway. All other preparations are on plan. Start-up is now anticipated in early January 2017, upon completion of this additional work.

Les Thomas, Chief Executive Officer, commented:
"The safety and integrity of the facility is paramount and we must ensure that everything is done meticulously in advance of the introduction of hydrocarbons into the facility. Although any delay to start-up at this stage is frustrating, the value of a thorough inspection programme has been proven and we look forward to completion of this work and the imminent start-up of production."

Takeover by Delek announced.

After the recent rise rise and rise, the much expected bid came along
One could say from 20p to 120p in one Year .........


Ithaca Energy's is recommending C$1.95 per share takeover by Delek Group which values the issued share capital of company at C$841m and implied a total enterprise value of approximately US$1.24bn.

Ithaca said the offer provided shareholders with the opportunity to crystallise the value of their holdings in cash and represents a 12% premium to the TSX closing price of C$1.74 per share on 3 February and a 16% and 27% premium to the 30 day and 60 day volume weighted average prices respectively.

Non-executive chairman Brad Hurtubise said: "We are very pleased to announce the Offer, which provides an attractive opportunity for all shareholders to secure a premium cash value for their investment following a sustained period of share price growth and at a favourable point in the company's evolution.

"A special committee of independent directors has fully assessed the Offer, with input from the company's financial advisor and an independent valuator, and believes the offer is fair and in the best interest of the company and its shareholders and unanimously recommends that the shareholders tender their shares to the offer."

I just realised that sometime back I was speculating about the Takeover by - Delek

mentor - 21 Aug 2016 21:33 - 76 of 90 edit this post

Speculation that Delek will again try to bid for the company

Delek's recent Asset Sales:

17th Feb: Attempting to sell Phoenix Holdings.
19th April: Completion of Sale Republic Companies Inc ($140m USD)
31st July: Raised 1,112,000 NIS = Circa $300m USD
17th August: Sale of Tamin & Karish leases sold to Energan ($148.5m USD) Delek's Share 52.94 = $78.61 USD
17th August: Signing of Agreement Sale of Power Station Ashkalon 200m NIS = circa $53m USD

Delek seems to be off loading assets building up its reserves
Is this the plan to launch a takeover?