Ithaca Energy continues negotiations on takeover

North Sea oil and gas player, Ithaca Energy, increased its estimated reserves and boosted cashflow during 2011 and says it is still in negotiations over a possible takeover.

North Sea oil and gas player, Ithaca Energy, increased its estimated reserves and boosted cashflow during 2011 and says it is still in negotiations over a possible takeover.

In 2011 the company saw cashflow from operations at $103.5m, against a prior year figure of $88.9m.

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