Seeking Alpha

Steven Ward » Comments » END

  • Ithaca Energy: Endeavour's Bid Insufficient [View article]
    Also, SE published my review of Endeavour in February. Check the archives, it is still available. What could happen here is someone swallowing both companies as North Sea consolidation is the jour du rigor.
    Jul 08 11:39 am |Rating: 0 0 |Link to Comment
  • Ithaca Energy: Endeavour's Bid Insufficient [View article]
    Prior to eND's offer, IACAF was stuck at 2.45 with the LSE and the TSE not giving it any upside for the oncomming oil streams. The END offer based on Ithaca's closing price prior to the offer is a 44 percent jump in share price for Ithaca.

    Both of these companies are very active and promising. END and IACAF would enhance anyone's 401K handsomely if held for 5 to 7 years. The two companies shouild merge and that merger would result in 40,000 BOE by 2012.
    Unfortunately for END and good for ITHACA is that END's unsolicited offer woke the market up to Ithaca's great potential, that prior to this, the markets ignored. But that is what makes a market. END is also undervalued with a 2 P +P reserve in excess of $3.00 per share and free cash flow of about 5o percent of the stock price.

    Buy both with both hands nomatter the takeover result. I am holding END shares.
    Jul 08 11:33 am |Rating: 0 0 |Link to Comment
More on END by Steven Ward
Comments by Ticker
AAPL, AAV, ABB, ABP, ABX, ACH, ACI, ACM, ADM, AEP, AHD, AKNS, ANR, APA, APC, APL, APOL, ATN, ATPG, AVT, AW, BBEP, BDD, BDG, BFS, BHI, BIREF.PK, BKH, BNPUF.PK, BOM, BOS, BP, BPL, BPO, BQI, BRGXF.PK, BRK.A, BROYF.PK, BTE, BTQNF.PK, BTU, BWP, BX, BXP, BZF, BZP, CAL, CCJ, CDE, CDNTF.PK,
Steven Ward's
Comments Stats
255 comments
Rating: 48 (90 - 42 )