Are they any good..?



currently 150p to buy.

Et voila.....superb increase.....200p now seems a possibility during the first part of the year

Buy.. buy..buy..

What is Ithacas current P2 reserve figure ?
Thanks.

42 million .

Average net sales were 3,493 boe per day. As previously notified, this figure is approximately 20% below the net average daily target for Q1 due to mechanical issues with the drilling mud handling system on the contracted rig, the Energy Enhancer, drilling the J03 well, and mechanical failure of a downhole packer in the Beatrice Alpha A28 workover well. As previously announced, drilling of the J03 well has now recommenced.

Operations to re-run the A28 completion have progressed; a replacement downhole packer has been successfully 'set' and the final stage of re-commissioning the well is underway.

The average realised price for oil sales in January and February was $107.40 per barrel (prior to hedging and any uplift at point of sale). Deliveries of oil for March are currently being priced.

The average realised price for gas production from Anglia and Topaz was 44.85 pence per therm ($7.56 per thousand standard cubic feet ('mcf')).

In order to benefit from the recent rise in oil price, Ithaca purchased a 'Put Option' with a floor price of $105 per barrel for 804,500 barrels of oil for the period March to December 2011. The 'Put Option' delivers a minimum price on the specified volume of oil and leaves the Company to benefit from any oil price upside above $105 per barrel.

Management anticipates that net sales will be increased in the second quarter by a sequence of operations that are scheduled to complete including an assumed successful Jacky second production well and the completion of workovers at Beatrice Alpha. Management continues to anticipate net average production for 2011 to be between 5,500 to 6,000 boepd net to Ithaca subject to a successful J03 well and Athena start up in November 2011.

Further to the recent announcement of the acquisition of assets from Hess Limited, the Company will add production upon completion of that transaction, anticipated in Q3 2011.

Jacky Field-Well Operations


Jacky Field-Well Operations

LONDON, UNITED KINGDOM and CALGARY, ALBERTA--(Marketwire - May 18, 2011) -

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 the J03 well on the Jacky field ("the well") has
been suspended having encountered a smaller than anticipated oil column in the Beatrice 'A' Sand reservoir.
Given the result of the well, technical work is ongoing to determine whether to re-enter the well and complete
it as a water injector to maximise oil recovery from the Jacky field.

Meanwhile, the drilling unit for the J03 well, Northern Enhancer, currently located over the Jacky platform,
will commence a workover operation to replace downhole pumps in the J01 production well. This operation is
estimated to last approximately 15 days.

Just incase anyone fancies attending - 2011 Annual & Special Meeting Presentation


The 2011 Annual & Special Meeting of Shareholders will be held at the Petroleum Club, Viking Room, 319 - 5 Avenue S.W.,
Calgary, Alberta, Canada, at 3.30 p.m. on Thursday, May 19, 2011.

2011 Annual & Special Meeting Presentation

Failure after failure for Ithaca since beginning of year.

Athena Development - Drilling Completed

Ithaca Energy Inc. (TSX VENTURE:IAE)(AIM:IAE) announces the final production well on the Athena field has been
drilled and fully cased. The well encountered a considerable section of oil saturated net reservoir, with good
porosities. Development drilling has now been successfully concluded and the project remains on schedule for
production start up in Q4 2011 at approximately 22,000 barrels of oil per day ("bopd") (gross), approx. 5,000
bopd (net to Ithaca), in-line with previous disclosure.

RNS is good news for LHD as well with their prospective share of 2000 bopd.

Establishment of Market Share Incentive Plan

This is a Shares and MoneyAMs new quarterly publication covering the world of Oil, Gas and Mining companies. The latest edition is out today and can be viewed as a page flip or a pdf download at www.mrqonline.co.uk

Features on:

Silver
Copper
Platinum

Companies Featured in this issue:

African Eagle
Ariana Resources
GGG Resources
Ithaca Energy
Ormonde Mining
San Leon Energy

RBS out today. Possible bid!

Is this another Cove or a Bowleven?

are they anxious to sell up before Athena is due to start production?

Ithaca Energy Inc.: Operatorship and Increased ...


Not for Distribution to U.S. Newswire Services or for Dissemination in the United States

Ithaca Energy Inc.

Operatorship and increased Interest in the Carna Discovery

London, UK - Calgary, Canada, March 26, 2012 - Ithaca Energy Inc. (TSX: IAE, LSE AIM: IAE) announces that
the Company has agreed to take over operatorship and increase its working interest in the Carna discovery,
located in the Southern Gas Basin of the UK North Sea. The transaction with Centrica North Sea Gas Limited
("Centrica") (the "Acquisition") increases the Company's working interest in the Carna discovery to a
material level from 16% to 32%. The financial terms of the transaction remain confidential between the
parties.

The Carna discovery straddles blocks 43/21b and 43/22c and lies adjacent to the producing Garrow and Kilmar
gas fields, which constitute the Tors facilities. The discovery was made in early 2009 when a gas column
in excess of 1490 feet TVD (true vertical depth) and net pay of 127 feet TVD was encountered in well 43/21b-
5Z. The well tested gas at a gross stabilised rate of 8.8 million cubic feet per day (MMcfpd) on a 48/64th
choke from a vertical well penetrating the Carboniferous.

The Company has agreed to a work programme with all of the Joint Venture partners to accelerate development
studies of the Carna discovery and, if appropriate to submit a Field Development Plan for approval to the
Department of Energy and Climate Change before the end of 2012.

The effective date of the Acquisition is January 1, 2012. The transaction and transfer is conditional upon
government and partner consents, as is customary.

Joint Venture partners (and their respective interests) in the Carna discovery, post the transaction, are:
Ithaca Energy (UK) Limited, operator (32%), Dyas UK Limited (24%), Centrica (40%), EWE Energie AG (4%).

Kuwait National Oil Firm In Takeover Talks With Ithaca Energy - Sunday Times
03/25/2012 | 10:12pm


Kuwait's national oil company is in advanced takeover talks with Ithaca Energy Inc. (IAE.T), the Sunday Times reported Sunday on its website, without directly citing its sources.

Kuwait Foreign Petroleum Exploration, the international arm of the Middle Eastern state's oil operation, has been in discussions with Ithaca for several months, the report said.

If the Kuwait bid is successful, it would likely use Ithaca as a platform to buy other North Sea oil fields, the report quoted unnamed industry sources as saying.

Full Story: http://www.thesundaytimes.co.uk/sto/business/Industry/article1001742.ece

FoxDavies views from the trading floor - Ithaca Energy, DEO Petroleum and Xcite Energy
Tuesday, May 29, 2012
Ithaca Energy (LON:IAE) slipped 32% to 118p during afternoon trading after the company said it has ceased discussions with all potential buyers saying the process was unlikely to produce a transaction that properly reflects the value of the company, particularly in light of the volatility in global markets and the short-term softening in Brent crude prices. Despite the cessation of talks, the company said it is in a position to continue delivering long-term shareholder value through growing the company and maximizing the value of its U.K. North Sea oil and gas assets. It forecasted cash flow from its operations will increase to about $575 million in 2014 from roughly $150 million in 2012, based on Brent crude at $100 a barrel. Ithaca also said it has agreed a threefold increase in its debt facility with BNP Paribas SA (BNP.FR) to $400 million plus a $30 million cost overrun tranche. It has said it will use the facility to fund development activities and acquisitions. The company said it is now delivering value from its portfolio of assets that have been built up in recent years, in particular its Athena and Greater Stella Area developments. As a result, it forecasts that group oil production will rise to more than 20,000 barrels of oil equivalent a day in 2014 from between 7,000 and 8,000 barrels of oil equivalent a day in the second half of 2012.





Read more: http://www.oilvoice.com/n/FoxDavies_views_from_the_trading_floor_Ithaca_Energy_DEO_Petroleum_and_Xcite_Energy/ed0552360dcd.aspx#ixzz1wHGdesLT

Ithaca Energy has climbed 10.5% to 125p this week, after gaining two new licences for North Sea exploration blocks that offer the potential for significant expansion. One block is close to Ithaca's Athena field, which is already in production, while the second of the new blocks is close to Ithaca's Hurricane oil discovery -- the company believes that it offers similar prospects.