Ithaca takes charge at Anglia

Ithaca Energy has completed a transaction to acquire for $10.5 million various gas interests in the UK southern North Sea from GDF Suez E&P UK.

Offshore staff

CALGARY, Canada -
- Ithaca Energy has completed a transaction to acquire for $10.5 million various gas interests in the UK southern North Sea from GDF Suez E&P UK.

As a result, the company has become operator of the Anglia field and the undeveloped Opal and Garnet undeveloped discoveries, and becomes a partner in the producing Topaz field.

Ithaca now has a 30% interest in Anglia in blocks 48/18b, 48/19b and 48/19e, while at Topaz, in blocks 49/1a and 49/2a, the interest is 35%.

The company has a 68.33% interest in Garnet in block 44/27a, which was discovered in 1986. To date one well has been drilled, with a further appraisal well has drilled off structure.

Finally, Ithaca has a 53.84% stake in Opal in block 43/25a, which was discovered in 2005. Here one well has been drilled which was geologically sidetracked to appraise the limits of the field.

12/22/2010

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