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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.

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.

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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

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