Ithaca Energy is a Canadian oil and gas exploration and development company with offices in Calgary, Canada, London, England and Aberdeen, Scotland, which is focused on the exploration and development of oil and gas reserves in the North Sea.Our objectives are to develop existing discoveries, explore for new discoveries and acquire assets. Ithaca's strategy is to acquire existing production or discoveries by purchase, farm-in or acquiring new licences; use modern seismic, drilling and production technologies, which management expects will increase reserves and provide income potential; use management's technical knowledge to generate and acquire exploration prospects; and use management's commercial skills to finance the exploitation of Ithaca's exploration and development prospects through farm-outs, joint ventures and equity issues.Ithaca has built a diversified portfolio of exploration and development assets through participation in the United Kingdom's recent Seaward licensing rounds and through acquisitions. This diversity is evidenced by properties in different geographic areas, encompassing multiple play types (both oil and gas), while maintaining a close proximity to producing fields in proven petroleum systems.
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