Ithaca Energy Inc. Athena First Oil

abarrelfullabarrelfull wrote on 22 Apr 2013 20:06
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May 28, 2012

Ithaca Energy Inc. (TSX:IAE)(AIM:IAE) announces the successful start-up of oil production from the Athena field. The initial operations phase of the field is in line with management's expectations and proceeding as planned. This involves bringing production from each well online and establishing stable performance of the oil processing and water injection systems. The Company will issue a further announcement once stabilised production rates have been established.

The Company, on behalf of all the Athena field co-venturers, thanks all the individuals and companies that have contributed to this significant milestone in the development of the field; a list of some of the major suppliers involved in the project is provided on the Company's website, www.ithacaenergy.com.

Joint Venture partners in the Athena field are: Ithaca, operator (22.5%), Dyas UK Limited (47.5%), EWE Energie AG (20%) and Zeus Petroleum Limited (10%).


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