Are they any good..?



currently 150p to buy.

something going on at ithaca, share price all over the shop.

RNS agreement with Gemini over Athena field.

Hoping for a big increase here : soon !.

rf keep an eye on RHEP they own 10% of the Athena field which is planned to produce 20000bopd next year, and is just off the coast of Scotland not in the NFB!

Will check that out this evening...cheers....

mention in todays FT reg.appointment of oil services provider whose name escapes me . Looks like s/p is recovering from its recent nadir of 105p .....bit of bottom fishing in play, or a catching knives act ?? ..Hoping the former and it acts as a platform springing it back to almost 200p..........Shall investigate this one- a lot of the same savvy guys l knew in the city who made a killing in DGO are predicting the same story here ......and RHEP ? sounds good -will take a look,,,,,,,,,,,,,,,,,,,sssheeeeesh RF is there any listed junior oilees you dont hold a position ..? :-))

RHEA was a screaming techical chartist buy at 5p a matter of a few days ago .....nice timing Halifax

ithaca up nearly 9% on the tsx.

finished the day up on the tsx 11%+ that equates to 1.28p

Substantial increase coming.....it has to......

RNS

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.