I am writing this follow up article on Ithaca Energy (OTCPK:IACAF) a little over a month since I introduced this rapidly growing North Sea oil and gas developer/producer to Seeking Alpha readers. I would encourage readers to also read my introductory article for context as I wanted to get to the point with this one so the introduction to the company is omitted.
There are for two reasons for this article:
- There has been material success toward achievement of a major production growth target of 16,000 boepd which will effectively double the company's (already significant) current production level of 14,000 boepd to 25,000 - 27,000 boepd
- I believe the alpha is just beginning even though the stock