Ithaca Energy is offering the opportunity to participate in the near term drilling of the Carna Prospect in Southern North Sea Blocks 43/21b & 22c. The well is scheduled to spud December 19 2008. Carna is a robust 'pop-up' structure mapped on good quality 3D seismic. Ithaca’s evaluation has identified 124 BCF gross mean recoverable reserves in Carna with upside of 191 BCF gross P10 recoverable reserves. The gross dry hole AFE is £16.9 MM and, on success, two DST’s are planned at a gross cost of £5.2 MM. Venture Production is operating the well. Ithaca will consider offers for a farm-out of 5 – 10% WI.

Carna is ideally placed to take advantage of the existing infrastructure of The Tors Development and a simple subsea tie-back development (Garrow~5km) is envisaged. In the upside case, a small, normally unmanned platform would be a viable alternative development scheme. Again, this would be tied back to the existing infrastructure. Ithaca has identified further prospects and leads in similar structural settings in its acreage around Carna with combined potential gross recoverable reserves of >1 TCF.

Current partners are: Ithaca Energy 29.9%; Venture Production 56%(Op); Dyas 10.1%; EWE 4%.

Should your company be interested in this opportunity, please contact Andy Melvin at energy365: amelvin@energy365.com. Tel: 01727 822675. Additional information is available on the energy365 energy-pedia web site at: http://www.energy-pedia.com/article.aspx?articleid=132946