Ithaca Completes Cook Field Acquisition (UK)

Ithaca Completes Cook Field Acquisition

Ithaca Energy Inc. has completed the acquisition of the wholly owned UK subsidiary company of Noble Energy Capital Limited (a subsidiary of Noble Energy Inc.  which owns the 12.885% non-operated interest in the Cook field.

Following the transaction, the Company now holds a 41.345% in the Cook field.

The Cook oil field, operated by Shell, lies in Block 21/20a in the Central North Sea, off UK. The field has been developed as a single well subsea tie-back to the Shell operated Anasuria floating production, storage and offloading vessel (“FPSO”), which serves as a host processing facility to several nearby fields, with oil exported from the FPSO via shuttle tankers and gas via pipeline to shore.

February 5, 2013