Trading Events on Ithaca Energy, Falkland Oil, Rockhopper Exploration

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Clearly interesting times on the markets this Monday with drops on all three but ones bottoming out, ones going down the pan and ones ready to move forward.

Firstly (LSE:FOGL) Falkland Oil is a real SELL with Malcy blog letting the cat out the bag regarding an equity issue at some point. If investors read the February RNS it was clearly hinted about fifth well hence why i sold and voiced my concerns. I think this call is correct SELL and add to Rockhopper Exploration safer option on Zebedee well results.

Secondly (LSE:RKH) Rockhopper Exploration had a knock on effect form leveraged money selling  out post spud. Its now undervalued and looks good for a top up if goes lower. I did point out a derisk on spud was not a bad idea but not a mad panic with fully financed balance sheet unlike Falkland Oil. Plus discovered Sea Lion 458m light oil P50 and Chatham SL20 50% cos well unlike FOGL 20% cos S.Basin.

My thoughts are correct switch into Rockhopper Exploration have upside of Zebedee  but not 50% –   if exploration well does not come in. Remember its one zone 52% cos of a multi stacked well. I am bullish but let it be an investment with compounding effect already been made by switching out of Falkland Oil not a gamble.

Lastly (LSE:IAE) Ithaca Energy. Amazes me the value at present with no finance problems ie no refinance till 2017 on partial bonds or issues just nine month delay on stella.  Remember $20 breakeven all in costs hedged and $52 unhedged on 12,000 bopd. Look out for the technical bottom at 36p/35p. No doubt everyones thinking the same thing, the spike there could be around the corner. Target £1.80 when Stella comes online and oil $70 a barrel.

Will be on Justin Waite Show again this Thursday March 19th 2015 to discuss the situation as so many shareholders want answers.

If your interest in advfn they have excellent data and level 2 on companies mentioned above well worth registering below.

Until the next time more ramblings from the castle can be seen @chrisoil

http://www.chrisoil.blogspot.co.uk

 

 

 

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