Ithaca Energy Stock: When Will Production Growth Get Priced In?

When will Ithaca’s production growth start to get priced into its stock? This junior North Sea oil producer is set to double production to 10,000 bopd late 2011, when its Athena project (Ithaca 22%, and operator) will come onstream. I would expect some speculative premium to start developing in the stock in advance, as the technical and financial risk is – IMHO – gone, but CEO Iain McKendrick says The Street is telling him differently. “Ithaca is a small company at $400 million market cap putting a large field into production as operator.  We did do the same at the Jacky field but it was smaller in scale.  So The Street may wait until first oil–’seeing is believing’” — . . . → Read More: Ithaca Energy Stock: When Will Production Growth Get Priced In?