Ithaca surges as more parties show interest

1st Mar 2012 11:02

Shares in AIM-listed oil firm Ithaca Energy jumped higher after the firm said that it has attracted more interest, following a non-binding proposal received on two months ago.Ithaca said today that it has since the initial proposal made on January 23rd, it has received unsolicited interest from a number of third parties. The firm now plans to enter into discussions with these parties in an effort to maximise shareholder value. All discussions are at a preliminary stage the firm said. Shares were 16% higher at 203p in mid-morning trade, compared with last night's closing price of 175p. Prior to the announcement in January, the shares were trading around the 135-140p level.NR