Ithaca Energy increases stake in Cook field

AIM-listed oil and gas exploration company Ithaca Energy has completed the acquisition of a wholly-owned UK subsidiary company of Noble Energy Capital Limited.

The acquired subsidiary owns a 12.885% non-operated interest in the Cook field, an oil-rich prospect located in the Central North Sea, approximately 175km east of Aberdeen and 20km north of the Gannet Cluster development.

The field was discovered in 1983 and has oil trapped in a single sandstone reservoir.

Following the transaction, Ithaca holds a 41.345% interest in the Cook field.

Ithaca's share price was down 0.59% to 125.50p at 10:51 on Tuesday.

MF