Ithaca Reports Production Boost at Beatrice Alpha

Ithaca announced stable production from the first workover well on Beatrice Alpha has increased by 100% to 680 barrels of oil per day ("bopd") gross (340 bopd net to Ithaca), in line with expectation.

The Beatrice Alpha well A04 is part of a five well work over program. Operations on the A04 well involved the replacement of a downhole pump.

Activities have commenced to workover the second well of the five well campaign (Beatrice Alpha well A23). The A23 well was producing approx. 260 bopd gross (approx. 130 bopd net to Ithaca) before being shut in early October to commence workover operations. A further production update will be provided after the well has been brought back on line and flow rates have stabilised.

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