Ithaca Energy Inc.: Athena Field Development Plan Approved

- September 23rd, 2010

Ithaca Energy Inc. (CVE:IAE) and its wholly owned subsidiary Ithaca Energy (UK) Limited, an independent oil & gas company with exploration, development and production assets in the UK sector of the North Sea, is pleased to announce it has received Field Development Plan approval from the UK Department for Energy and Climate Change for the Athena oil field.

Ithaca Energy Inc. (TSXV:IAE) and its wholly owned subsidiary Ithaca Energy (UK) Limited, an independent oil & gas company with exploration, development and production assets in the UK sector of the North Sea, is pleased to announce it has received Field Development Plan approval from the UK Department for Energy and Climate Change for the Athena oil field.

The press release is quoted as saying:

Gaining FDP approval is a very significant step towards securing first production from the field, which is planned for Q3 2011 at 22,000 barrels of oil per day (“bopd”) (4,950 bopd net to Ithaca) following an independent evaluation of the Company’s petroleum and natural gas reserves by Sproule International Limited (www.sproule.com). The Athena field is operated by Ithaca.

Click here to access the entire press release

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