UK: Ithaca Starts Drilling 2nd Production Well at Jacky Prospect

Ithaca Energy Inc. announces today that the Energy Enhancer jack-up drilling unit has commenced drilling a second production well on the Jacky field.

Well 12/21c-J03 (“the well” or “J03”) is being drilled to access additional reserves and increase production as part of a field management strategy. The drilling unit has been positioned over the Jacky platform to drill from an existing spare wellbay to facilitate early tie in to the existing production stream. J03 is being directionally drilled to a northern area of the field within the same structure and geological unit (Beatrice ‘A’ Sand) as the existing wells.

As previously announced, the drilling programme will last approximately 72 days.

Co-venturers in the Jacky field are Ithaca (operator, 47.5%), Dyas UK Limited (42.5%) and North Sea Energy (UK) Limited (10%).

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”).

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Source:Ithaca Energy, March  8, 2011