Ithaca Energy Inc FPF-1 Update (9265E)
July 22 2016 - 2:00AM
UK Regulatory
TIDMIAE
RNS Number : 9265E
Ithaca Energy Inc
22 July 2016
Not for Distribution to U.S. Newswire Services or for
Dissemination in the United States
This Announcement Contains Inside Information
Ithaca Energy Inc.
FPF-1 Update
22 July 2016
Ithaca Energy Inc. (TSX: IAE, LSE AIM: IAE) reports that the
"FPF-1" floating production facility has completed the required
inclination test as planned and departed the Remontowa shipyard in
Gdansk, Poland. The vessel has been moved to a deep water location
offshore Gdansk to undertake final marine system trials over the
course of next week. Upon completion of these trials, the FPF-1
will commence the tow to the Stella field. A further update will be
provided once towing operations have commenced.
- ENDS -
Enquiries:
Ithaca Energy
Les Thomas lthomas@ithacaenergy.com +44 (0)1224 650 261
Graham Forbes gforbes@ithacaenergy.com +44 (0)1224 652 151
Richard Smith rsmith@ithacaenergy.com +44 (0)1224 652 172
FTI Consulting
Edward Westropp edward.westropp@fticonsulting.com +44 (0)203 727 1521
Tom Hufton tom.hufton@fticonsulting.com +44 (0)203 727 1625
Cenkos Securities
Neil McDonald nmcdonald@cenkos.com +44 (0)207 397 1953
Nick Tulloch ntulloch@cenkos.com +44 (0)131 220 9772
Beth McKiernan bmckiernan@cenkos.com +44 (0)131 220 9778
RBC Capital Markets
Daniel Conti daniel.conti@rbccm.com +44 (0)207 653 4000
Matthew Coakes matthew.coakes@rbccm.com +44 (0)207 653 4000
About Ithaca Energy
Ithaca Energy Inc. (TSX: IAE, LSE AIM: IAE) is a North Sea oil
and gas operator focused on the delivery of lower risk growth
through the appraisal and development of UK undeveloped discoveries
and the exploitation of its existing UK producing asset portfolio.
Ithaca's strategy is centred on generating sustainable long term
shareholder value by building a highly profitable 25kboe/d North
Sea oil and gas company. For further information please consult the
Company's website www.ithacaenergy.com.
Forward-looking Statements
Some of the statements and information in this press release are
forward-looking. Forward-looking statements and forward-looking
information (collectively, "forward-looking statements") are based
on the Company's internal expectations, estimates, projections,
assumptions and beliefs as at the date of such statements or
information, including, among other things, assumptions with
respect to production, drilling, construction and maintenance
times, well completion times, risks associated with operations,
future capital expenditures, continued availability of financing
for future capital expenditures, future acquisitions and
dispositions and cash flow. The reader is cautioned that
assumptions used in the preparation of such information may prove
to be incorrect. When used in this press release, the words and
phrases like "anticipate", "continue", "estimate", "expect", "may",
"will", "project", "plan", "should", "believe", "could", "target",
"in the process of", "on track" ,"set to" and similar expressions,
and the negatives thereof, whether used in connection with
operational activities, remaining work activities prior to the
FPF-1 being towed to the Stella field and the timing thereof,
timing of commencement of towing the FPF-1 to the Stella field,
timing of future FPF-1 updates, or otherwise, are intended to
identify forward-looking statements. Such statements are not
promises or guarantees, and are subject to known and unknown risks,
uncertainties and other factors that may cause actual results or
events to differ materially from those anticipated in such
forward-looking statements. The Company believes that the
expectations reflected in those forward-looking statements are
reasonable but no assurance can be given that these expectations,
or the assumptions underlying these expectations, will prove to be
correct and such forward-looking statements included in this press
release should not be unduly relied upon. These forward-looking
statements speak only as of the date of this press release. Ithaca
Energy Inc. expressly disclaims any obligation or undertaking to
release publicly any updates or revisions to any forward-looking
statement contained herein to reflect any change in its
expectations with regard thereto or any change in events,
conditions or circumstances on which any forward-looking statement
is based except as required by applicable securities laws.
Additional information on these and other factors that could
affect Ithaca's operations and financial results are included in
the Company's Management Discussion and Analysis for the quarter
ended 31 March 2016 and the Company's Annual Information Form for
the year ended 31 December 2015 and in reports which are on file
with the Canadian securities regulatory authorities and may be
accessed through the SEDAR website (www.sedar.com).
This information is provided by RNS
The company news service from the London Stock Exchange
END
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