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Strategies & Market Trends : Bosco & Crossy's stock picks,talk area -- Ignore unavailable to you. Want to Upgrade?

To: Crossy who wrote (23985)	9/28/2006 7:16:22 AM
From: Ed Ajootian	Read Replies (1) \| Respond to of 37387

Crossy, I understand your point insofar as it would apply to an explorer who does not have enough cash already in the bank to fund at least the next year's activity. But what if the company is cashed up? It would seem to obviate this problem. Another explorer I've been buying a lot of recently is Ithaca Energy (IAE.V). They recently did a simultaneous IPO in Canada and the London AIM, for about C$58 M. They have some great prospects in the North Sea and are drilling their first hole there as we speak, one which, after farm-outs, is probably going to cost them all of about C$4 M (for a 66% NRI). I don't think the price of oil is going to have much to do with where their stock price goes between now and when the results of this well is announced.