Ithaca begins drilling final Athena development well in the UK North Sea

Source: Ithaca Energy

Ithaca Energy Inc. (LON:IAE) (TSX:IAE) reported that the Sedco 704 semisubmersible drilling rig has commenced the drilling of the final production well for the development of the Athena field in the UK central North Sea.

Well 14/18b-A2 is being drilled from the Athena drill centre and is the final well to be drilled of a 180 day campaign of drilling and completion activities. The well is planned to be directionally drilled to produce oil reserves lying in the northwest of Athena. In addition, this well is planned to intersect the top reservoir (Top Scapa A sands) at a point within the appraised Athena oil pool and continue north, drilling at a high angle to provide valuable information relating to an area of the field targeted for future development. The drilling and completion of the well as a producer is scheduled to last approximately 80 days.

Co-venturers in the Athena are Ithaca (operator, 22.5%), Dyas UK Ltd (47.5%), EWE Aktiengesellschaft (20%) and Zeus Petroleum Limited (10%).



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