Offshore staff

Ithaca Energy (UK) Ltd. entered a contract with Dolphin Drilling for the semisubmersibleBredford Dolphin, to drill Ithaca's first well in the North Sea.

Ithaca plans to drill an appraisal well on its Athena Project on block 14/18b in the Outer Moray Firth area of the UK North Sea.

The well targets a depth of approximately 9,700 feet to appraise Scapa sands previously proven to be oil-bearing in two wells drilled by another operator.

"Obtaining the services of this rig in a very tight rig market is a major accomplishment for the company and reflects Ithaca's aggressive approach to the development of its assets," said Lawrie Payne, CEO of Ithaca. "It will allow us to initiate appraisal and development of one of Ithaca's most significant assets much earlier than previously anticipated."

6/14/06