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Our Assets
Exploration and Development Blocks
Ithaca has built a diversified portfolio of exploration and development assets through participation by
Ithaca UK in the United Kingdom’s recent Seaward licensing rounds and through acquisitions. This diversity
is evidenced by properties in different geographic areas, encompassing multiple play types (both oil and gas),
while maintaining a close proximity to producing fields in proven petroleum systems. Ithaca UK’s interests
range from 20% to 100% in 30 blocks or partial blocks under 16 licences covering more than 514,000 acres.
Ithaca has screened more than 300 existing discoveries, of which it has evaluated more than 25 which management believes can be economically developed. Of those, Ithaca, through Ithaca UK, has successfully acquired three (3) for development as set
out below:
- a 70% interest in partial block 14/18b located in the Athena discovery in the Outer Moray Firth,
which contains two (2) undeveloped oil wells. The Corporation is planning to drill a third well in the
fourth quarter of 2006 which, if successful, would be completed for production and would result in
further development;
- a 20% interest in partial block 23/16c located in the Barbara discovery, a gas and condensate
discovery in the Central North Sea which is scheduled to be developed during 2006 and 2007;
- a 90% interest in partial block 12/21c located in the Beatrice Alpha North Prospect in the Inner
Moray Firth, which Ithaca anticipates drilling in 2007.
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| Latest News |
Ithaca Energy Announces Response to Endeavour’s Non-Binding Proposal
LONDON, U.K. - CALGARY, ALBERTA, July 7, 2008 -- Ithaca Energy Inc. (LSE-AIM: IAE, TSX-V: IAE), an independent oil & gas company with exploration and development assets in the UK sector of the North Sea, announces that its Board of Directors has unanimously determined that the unsolicited non-binding proposal (the "Proposal") received from Endeavour International Corporation to acquire all of the issued and outstanding shares of Ithaca is not in the best interests of Ithaca shareholders.
more...
VIEW PRESENTATION
Environmental Performance 2007 Report (pdf)
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