Ithaca Strikes Success at Stella Appraisal

The recently drilled Stella appraisal well, 30/6a-8, proved the presence of additional volumes of hydrocarbon, and an excellent quality reservoir. The 30/6a-8 well appraised a large down flank extension of the Stella field, showing the total measured hydrocarbon column height is now in excess of 820 feet (250 meters). This new information has significantly increased reserves beyond those previously assessed. The well confirmed hydrocarbons are more than 500 feet (152 meters) lower than in previous wells, demonstrating that connected hydrocarbons are present in the field down to the geological spill. Furthermore, a Drill Stem Test was performed to provide information for development options. During the test, the well flowed in excess of 5,000 barrels of liquid per day (oil plus water) consisting of 2,850 barrels of light 39 degree API light oil per day and 2,150 barrels of water per day. The well will now be geologically sidetracked to test the reservoir up-flank between this vertical bore and existing wells to further investigate the quality of the reservoir. The Stella gas field is situated on UKCS Block 30/6 in waters measuring 280 feet (85 meters) in the North Sea. Ithaca serves as the operator and holds a 50.33% interest.

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