Ithaca finds rig for Athena

Ithaca Energy (UK) has contracted the semisubmersible Stena Spey to drill its next appraisal well on the Athena oil prospect in the UK North Sea.

Offshore staff

CALGARY, Canada --Ithaca Energy (UK) has contracted the semisubmersible Stena Spey to drill its next appraisal well on the Athena oil prospect in the UK North Sea. This follows an accord with Senergy, which will provide drilling management services.

Drilling should start by the end of the month, the location being close to the mapped northern pinch-out of the Upper Leek reservoir formation, and midway between two previous productive wells.

Ithaca had expected theByford Dolphin to do this work, but that rig has been delayed by scheduling and weather problems related to its current program. Ithaca believes Athena contains 28 MMbbl of oil, and expects to keep the new well as a producer, to drain the field's eastern extent. It aims to file a development plan before year-end.

8/23/2007

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