![](/cdn/assets/images/search/clock.png)
We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type |
---|---|---|---|
Ithaca Energy Inc. | TSXV:IAE | TSX Venture | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0 | - |
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES Ithaca Energy Inc. (TSX VENTURE:IAE)(AIM:IAE) announces that it has agreed to divest an interest in the Hurricane field to Dyas UK Limited ("Dyas"). The Company has also signed a contract letter of intent to secure a rig for drilling of the Hurricane appraisal well in early 2012. The Company has signed an agreement with Dyas to divest a 25.34% interest in Block 29/10b, which contains the Hurricane field, with an effective date of 1 January 2011. In consideration for the interest, Dyas will pay its pro-rata share of costs incurred since the effective date. This transaction should be considered within the context of all transactions announced by the Company today. The transaction is subject to the submission for approval of a Stella / Harrier Field Development Plan to the Department of Energy and Climate Change ("DECC"). Hurricane Appraisal Well Rig Commitment The Company has signed a rig contract letter of intent with Awilco Drilling plc to provide a semi-submersible drilling unit for the drilling of an appraisal well and performance of a well test on Hurricane commencing in Q1-2012. The Company intends to manage the drilling of the well through turnkey arrangements. A conference call for analysts in the UK and Europe will be held at 09.00 GMT on October 20 2011 and with North American analysts on the same day at 14.00 GMT (07.00 EST) to provide further background information on the details presented in this and other recent press releases issued today. Dial-in details for the call can be obtained by contacting Pelham Bell Pottinger. A presentation concerning the information covered in this press release will be available on the Company's website (www.ithacaenergy.com) immediately prior to the conference call on October 20 2011. Notes to oil and gas disclosure: In accordance with AIM Guidelines, Hugh Morel, BSc Physics and Geology (Durham), PhD Hydrogeology (London) and senior petroleum engineer at Ithaca is the qualified person that has reviewed the technical information contained in this press release. Dr Morel has 30 years operating experience in the upstream oil industry. About Hurricane: Hurricane was discovered in 1995 by well 29/10-4Z which tested the western lobe of a mapped structure and encountered light oil (41 degrees API) in a 62 foot section of reservoir sands. The Hurricane appraisal well is being designed to confirm hydrocarbons in the eastern lobe of the structure, characterised by high porosity (up to 30%) channelised Paleocene Rogaland sandstones. Upon the successful appraisal of Hurricane, the intention is to suspend the well as a future development well. About Ithaca Energy: Ithaca Energy Inc. and its wholly owned subsidiary Ithaca Energy (UK) Limited ("Ithaca" or "the Company"), is an oil and gas exploration, development and production company active in the United Kingdom's Continental Shelf ("UKCS"). The goal of Ithaca, in the near term, is to maximize production and achieve early production from the development of existing discoveries on properties held by Ithaca, to originate and participate in exploration and appraisal on properties held by Ithaca when capital permits, and to consider other opportunities for growth as they are identified from time to time by Ithaca. Not for Distribution to U.S. Newswire Services or for Dissemination in the United States. Forward-looking statements Some of the statements in this announcement are forward-looking. Forward-looking statements include statements regarding the intent, belief and current expectations of Ithaca Energy Inc. or its officers with respect to various matters. When used in this announcement, the words "anticipate", "continue", "estimate", "expect", "may", "will", "project", "plan", "should", "believe", "could", "target" and similar expressions, and the negatives thereof, whether used in connection with future development plans associated with the Hurricane field are intended to identify forward-looking statements. Such statements are not promises or guarantees, and are subject to known and unknown risks and uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements or information. These forward-looking statements speak only as of the date of this announcement. Ithaca Energy Inc. expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statement contained herein to reflect any change in its expectations with regard thereto or any change in events, conditions or circumstances on which any forward-looking statement is based except as required by applicable securities laws.
1 Year Ithaca Energy Inc. Chart |
1 Month Ithaca Energy Inc. Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions