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Media/Investor Relations
News Release
Ithaca Energy Founded by Industry Veterans to take to the North Sea
CALGARY, ALBERTA & ABERDEEN, SCOTLAND, April 26, 2004 -- Ithaca Energy Inc. was founded today to focus aggressively on the untapped potential of proven reserves on the UK Continental Shelf in and around the North Sea.
Founded by oil industry veterans, Mr. Donald B. Copeland, Mr. Gerald L. Roe, and Mr. Neill A. Carson, the Company will pursue opportunities primarily on the UKCS. "We want to build this company quickly to seize opportunities that currently exist in the area." said Mr. Roe. Mr. Copeland added "Our mature-basin experience and solid capital-backing will allow us to effectively evaluate prospects, including production and exploration."
Mr. Carson stated that "we intend to acquire production early in order to create a revenue stream which we can augment with additional capital to fund an exploration program on a portfolio of prospects."
Ithaca Energy Inc. is a privately-held company registered in the Province of Alberta.
FOR FURTHER INFORMATION PLEASE CONTACT :
Ithaca Energy Inc.
Mr. Brad G. Gunn
VP Corporate Development
Phone: (403) 263-0050
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