Ithaca to drill second Jacky production well

Ithaca Energy plans to drill a second production well on the Jacky field in the first quarter of 2011 to access additional reserves.

Daily production from the well is expected to exceed 5,000 barrels of oil per day initially when the well comes on stream in Q2.

Production history and detailed subsurface work has identified a currently unswept area within the field to the north of the existing production well.

Management believes that this area could contain substantial incremental oil reserves.

The Jacky field in the UK North Sea has produced strongly from one production well since April 2009 and has significantly exceeded production forecasts.

Chief development officer John Woods said: "The exceptional performance of the Jacky field implies that initial estimates of recoverable reserves have been exceeded.

"The northern area of the field was recognised from the outset to be poorly drained by the current production well.

"This new well is expected to target a substantial increment to reserves and, upon success, is anticipated to provide continued excellent performance from the field."

Partners in the Jacky field are Ithaca (47.5%), Dyas UK (42.5%) and North Sea Energy (UK) (10%).

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