Ithaca Energy: Upside Delayed, But Not Denied
- Ithaca Energy stock has been moving sideways for a large part of 2014 and an upside is imminent.
- The delay in production from the company's game changing asset has delayed the upside, but the big growth potential remains.
- Strong expected production and revenue bump-up in 2015 points to a valuation gap of 40% on a relative valuation consideration.
- Test of the fourth Greater Stella well in 3Q14 can potentially change the first oil guidance and result in a greater than 40% upside.