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+--- Thread: Citi initiates coverage on IOC with a Buy (/showthread.php?tid=9249)
Citi initiates coverage on IOC with a Buy - Justin94360 - 10-20-2015
Can't see a price but that takes us to 10 buys I believe.
RE: Citi initiates coverage on IOC with a Buy - jft310 - 10-20-2015
Every major investment bank sees the opportunity . A chance for them to make money . Making money is debt offerings, equity offerings and buy ins and buy outs .
RE: Citi initiates coverage on IOC with a Buy - Gator - 10-20-2015
Citi starts with a buy and target price of $49.21. Nine brokerage buys (out of 9), average target price $56.71. High of $80 low of $45 and we sit in the school zone in the $30's.
RE: Citi initiates coverage on IOC with a Buy - jft310 - 10-20-2015
Today $49 looks pretty good . It's simple we need the T number and the $$$$.
RE: Citi initiates coverage on IOC with a Buy - ArtM72 - 10-21-2015
'Gator' pid='63880' datel Wrote:Citi starts with a buy and target price of $49.21. Nine brokerage buys (out of 9), average target price $56.71. High of $80 low of $45 and we sit in the school zone in the $30's.
Yeah. IOC is a discovery company that jettisoned its well construction and drilling crews and now can't seem to get anything right anymore. Two years sinse the "transformative deal" that now appears to be destined to change a silk purse into a sow's ear. Bad JuJu I tell you. And we wonder why we see price targets as they are? Never good to be in the position of investing in a company that works under a cloak of secrecy because the news it realeases when it has to is inevitably bad.
Anyone else still wonder what the company found at Wahoo after spilling $100 million?
RE: Citi initiates coverage on IOC with a Buy - Getitrt2 - 10-22-2015
Art, what are you talking about? I think there are still well construction and drilling crews available for at least two rigs, with two high quality rigs under long-term contracts with IOC. What facts do you have to indicate differently?
"Can't get anything right anymore"? Great results with Ant 5, with extended flow testing, with Ant 4 to the point of the JV deciding to drill an extended side track. While doing that, shifting priorities and resources to accelerate Ant 6 and certification, all with agreement from Total. Sounds right to me.
Investment firm price targets are as they are because of oil prices and forecasts and because of conservative 7 Tcfe resource estimates and risking most are not going to change until more is confirmed.
Do you know of ANY exploration company with a perfect record of ZERO misses, especially in frontier territory? Shell just had huge misses costing billions. I wonder how much information they have put out about what they found? Obviously, the information found is limited and uncertain, and there may be some not appropriate to be made public.
Do you have ANYTHING positive to say? Give us a break!
RE: Citi initiates coverage on IOC with a Buy - Gator - 10-22-2015
"This weak outlook for global LNG markets may result in project delays, weaker realised LNG prices and a possible need to gift free equity interest to customers to attract offtake contracts. At the same time we don’t think it makes sense to build two LNG projects in PNG at the same time, particularly given PNG government cash constraints, and hence see a race against PNG LNG T3 with one project needing to be delayed by 1-2+ years."
RE: Citi initiates coverage on IOC with a Buy - 2126 - 10-22-2015
Some of the 'bad news' press releases in the last year:
IOC Discovery at Raptor 1 (11/14)
IOC Discovery at Bobcat 1 (12/14)
OSH Arbitration Claim Dismissed (2/15)
E/A Joint Venture Selects Sites (7/15)
Total Assumes Operatorship of E/A (7/15)
Antelope 5 Results Suggest High Quality Reef Extends West (8/15)
Antelope 4 Side Track 1 Spud (8/15)
Successful Flow Test at Triceratops 3 (9/15)
Second Rig Joins E/A Appraisal Work (10/15)
RE: Citi initiates coverage on IOC with a Buy - Gator - 10-22-2015
'2126' pid='63910' datel Wrote:Some of the 'bad news' press releases in the last year:
IOC Discovery at Raptor 1 (11/14)
IOC Discovery at Bobcat 1 (12/14)
OSH Arbitration Claim Dismissed (2/15)
E/A Joint Venture Selects Sites (7/15)
Total Assumes Operatorship of E/A (7/15)
Antelope 5 Results Suggest High Quality Reef Extends West (8/15)
Antelope 4 Side Track 1 Spud (8/15)
Successful Flow Test at Triceratops 3 (9/15)
Second Rig Joins E/A Appraisal Work (10/15)
All that and $39 will get you a share of IOC stock (which is down over 50% from the transformation deal.)
Most everything on that list is not important. The only thing that matters is certification payment; When and How much. Neither of which can be answered 23 months after the deal.
You even list "OSH Arbitration Claim Dismissed (2/15)". Arbitration and the delay that followed should never have happened.
You also list "Side Track 1 Spud" that is because there was a delay and "Second Rig Joins E/A" which is also the direct result of a delay.
Delays matter.
RE: Citi initiates coverage on IOC with a Buy - CAC - 10-22-2015
'Gator' pid='63912' datel Wrote:[quote='2126' pid='63910' dateline='1445445065']
Some of the 'bad news' press releases in the last year:
IOC Discovery at Raptor 1 (11/14)
IOC Discovery at Bobcat 1 (12/14)
OSH Arbitration Claim Dismissed (2/15)
E/A Joint Venture Selects Sites (7/15)
Total Assumes Operatorship of E/A (7/15)
Antelope 5 Results Suggest High Quality Reef Extends West (8/15)
Antelope 4 Side Track 1 Spud (8/15)
Successful Flow Test at Triceratops 3 (9/15)
Second Rig Joins E/A Appraisal Work (10/15)
All that and $39 will get you a share of IOC stock (which is down over 50% from the transformation deal.)
Most everything on that list is not important. The only thing that matters is certification payment; When and How much. Neither of which can be answered 23 months after the deal.
You even list "OSH Arbitration Claim Dismissed (2/15)". Arbitration and the delay that followed should never have happened.
You also list "Side Track 1 Spud" that is because there was a delay and "Second Rig Joins E/A" which is also the direct result of a delay.
Delays matter.
******
And I'm a little confused as to what the end-game is now. I've heard Hesion say he thinks there is 17T's outside of E/A (of course, JFT calls it 54T's) and that we need to "go find gas; monetize it; and repeat"...but then after the "Wahoo whiff" he now says that they are going to minimize exploration drilling in favor of a "cash-saving mode" instead. I'm not saying that either plan is right or wrong...just that they seem to be all over the map.