Bolt-ons are fine with me and I believe they will come or all the work on establishing a facility particularly for the effort would have been in vain. Mart is in happy land (save the rebels blowing up pipelines and kidnapping). All they have to do is what Jed Clampet did...... shoot at the ground and up comes oil. Two different companies.
Swing, it appears to be extremely obvious that you have a bee in your bonnet wrt to Ithaca, as you take every opportunity you can to take a shot it the company and its management. There are numerous stocks that have dissapointed me in the past, but out of respect for the current holders, I hold back from constantly expressing my frustration. You have got to have better things to do than this. As I have indicated before, Mart spent a long long time in the DOG house and is finally coming to its own. I stated in my last post that I do not believe that Ithaca has the model best suited to spending $150 million each year on a dividend. I really question why Mart even did so at this point in their cycle as well. All you need is Brent to revert to $90 like many are now forecasting and the decision will have not been a good one. Rember that Mart has been around since about 1994 and Ithaca since 2006. Ithaca is a very young company relatively speaking and operating in a totally different environment where you are not poking holes in a prolific field at $4 - $6 million per crack but ratther the production growth is extremely lumpy as wel are witnessing.
I for one get your point that you are not fussy on IAE.....honestly I get it. But they are a lot better off than they were a couple of years ago. They are trading at about 8 times 2013 earnings along with dozens of other companies in a sector where stocks are trading at extreme discounts rather than premium valuations ( the expections being those that are exploration focused and happen to be striking oil)