Trading Update on Ithaca Energy, Falkland Oil, Rockhopper Exploration

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Breaking news on  the three hot stocks going in all directions BUT only two ready to bounce.

Panmure Gordon has a sell rating for (LSE:FOGL) Falkland Oil and a BUY rating on (LSE:RKH) Rockhopper Exploration. Chris Oil calls it again. Interesting tweets first thing by David Buik. Clearly the market agrees with my views in my last article falling as i write to 26.50p. This is basically down to news of a placing coming down the road mentioned on Malcys blog or as i pointed out reading the Feb RNS.

Last call to get out into (LSE:RKH) Rockhopper Exploration which has no funding worries and Sea Lion 458m P50 plus all the upside on Zebedee without 50%- downside. Panmure Gordon states £1.45 target for Rockhopper and downgraded Falkland Oil to 25p

Crazy times at (LSE:IAE) Ithaca Energy around tech level 36/35p,  still seller about gone now based on volume and word on the street, so a rebound is coming i believe. Do not forget Budget March 18th not far away with rumours of North Sea tax breaks for producers will directly benefit Ithaca long term. Fundermentally nearly on the same market cap as (LSE:XEL) Xcite Energy now with no production, no funding, debt and no field development plans. Yet Ithaca is producing 12,000 bopd with hedging at $102 plus 16,000 bopd net with Stella online in nine months and no refinance of the bonds till 2017 from Moody notes. Clearly a bargain, still buying, thats why even well known shorters like EK Simon Cawkell have gone long in the forties.

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

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Until the next time more ramblings from the castle @chrisoil twitter

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