Ithaca buoyed by strong second quarter
13th Aug 2012 10:34
Ithaca Energy, the North Sea focused oil and gas company, reported a big jump in profits in the first half of the year on increased oil sales. The firm said pre-tax profits came in at $35.5m, up from $10m in the first half of 2011. Revenue increased by $28.5m over the period to $76.3m, resulting i
Read moreIthaca appoints contractor for Greater Stalla
30th Jul 2012 09:52
Ithaca Energy, the North Sea focused oil and gas company, has looked across the Channel for an engineer to build the sub-sea structures at its Greater Stella Area gas project. The French engineering giant, Technip, has won the $230m contract, of which Ithaca must pay $126m as the majority owner of
Read moreIthaca goes into Hurricane
9th Jul 2012 08:35
Shares in Ithaca Energy rose on Monday morning after the firm said it had started drilling its Hurricane appraisal well in the North Sea. The well programme in the in Block 29/10b of the company's Greater Stella Area is expected to take between 75 to 85 days to complete. The drilling mission has t
Read moreIthaca wins court case
4th Jul 2012 09:02
Ithaca Energy said it had won its court battle over who should pay costs of drilling at its Jacky J03 well in the North Sea. The Commercial Court of the High Court backed Ithaca's position in concluding that the well was drilled as a "Joint Operation" with North Sea Energy (NSE). This means NSE i
Read moreIthaca blockage hits shares
25th Jun 2012 09:08
North Sea explorer Ithaca Energy fell in early trading on Monday after the firm said one of its wells was blocked and not producing oil. Shares dropped almost 9% after the company said only three of its four production wells on the Athena field were flowing due to a suspected downhole restriction i
Read moreResources round-up: Goldstone, Caza, Anglo Asian Mining...
7th Jun 2012 11:59
Exploration company Goldstone has confirmed the wide depth extension of its gold resource at Homase/Akrokerri in West and Central Africa after 46 holes were drilled, totalling 13,200 metres. Included in these, one hole intersected gold mineralisation of 15.7m at 1.4 g/t including 4.5m at 3.3 g/t, wh
Read moreIthaca bombs after takeover bids fail
29th May 2012 10:50
North Sea explorer Ithaca Energy said it had ceased discussions with all parties regarding a takeover of the company. In March the company's share price surged after it said multiple parties were interested in buying it. However, Ithaca has decided that the potential offers on the table were not h
Read moreIthaca starts oil production at Athena field
28th May 2012 07:57
Ithaca Energy, the AIM-listed oil and gas group focused on the UK Continental Shelf (UKCS), has reported the successful start-up of oil production from the Athena field which is proceeding as planned. In a brief statement, the company said that the initial operations phase of the field is in line w
Read moreResource round-up: Oilex, Gold Oil, Rialto Energy
8th May 2012 10:32
Oilex has decided to suspend operations at its Cambay-76H horizontal well onshore Gujarat, India, after suffering repeated mechanical problems. Oilex had been conducting operations to recover and replace a damaged drill pipe and to recover milling assemblies from the well. During these operations th
Read moreIthaca Energy continues negotiations on takeover
29th Mar 2012 15:25
North Sea oil and gas player, Ithaca Energy, increased its estimated reserves and boosted cashflow during 2011 and says it is still in negotiations over a possible takeover. In 2011 the company saw cashflow from operations at $103.5m, against a prior year figure of $88.9m. Profit before tax came i
Read moreResource stocks round-up: Stellar, Bowleven, Ithaca ...
26th Mar 2012 10:26
West Africa-focused Stellar Diamonds said it had discovered a significant maiden diamond resource at its Tongo Kimberlite Dyke Project in Sierra Leone. The firm said the high diamond grades and values exhibited at its Dyke-1 mine made it one of the highest value kimberlites in terms of dollars per t
Read moreIthaca 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
Read moreLondon midday: Stocks extend gains, RBS and IAG on the rise
23rd Jan 2012 11:46
- Markets await news from Greece. - Lagarde warns of "1930s moment"; - RBS rises on rumours of CEO waiving bonus. London's benchmark index had extended gains by midday with the market showing their optimism as investors awaited news from Greece. US stock futures were also pointing to a positive sta
Read moreLondon open: Footsie rises with Greece in focus
23rd Jan 2012 08:36
UK stocks rose on Monday with hopes that Greece can reach a deal with its bondholders boosting sentiment early on. The Institute of International Finance (IIF) seems to have hardened its stance in its negotiations with Greece. Charles Dallara, theManaging Director of the IIF, the body which is neg
Read moreIthaca Energy in play
23rd Jan 2012 07:01
Ithaca Energy, the Canadian oil and gas firm, has received a bid approach and discussions are taking place which may or may not lead to an offer being made for the issued share capital of the company. The company holds a number of assets in the UK-owned part of the North Sea, including the Athena
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