Ithaca's Beatrice Alpha 'Exceeds Expectations'

Ithaca announced that stable production from the second workover well (A23) on Beatrice Alpha has increased by approx. 115% to approximately 560 barrels of oil per day ("bopd") gross (280 bopd net to Ithaca), exceeding management expectations.

Activities will commence in early January 2011 on the third workover well of the campaign (Beatrice Alpha well A28).

Joint Venture Partners in the Beatrice Field are Ithaca (50%) and Dyas UK Ltd (50%).

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