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Ithaca to take forward talks
Posted 01.03.2012 10:08:09 av John Bradbury
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North Sea field developer Ithaca Energy has signalled today that it is to take forward talks with interested parties over a possible offer for the company.

After announcing back on 23 January that it had received a non-binding proposal to acquire all of the outstanding shares of the company, and that discussions were only at a preliminary stage, Ithaca has revealed today that it has “... also received unsolicited interest from a number of third parties.”

And the board of Ithaca has agreed that the discussions should continue, saying...  “..It is in shareholders best interests that the Company enters into discussions with all bona fide interested parties with a view to maximising shareholder value.”

But at the same time Ithaca also stated the usual caution that there is no certainty an offer will be made for the company.

Ithaca announced yesterday its BW Athena FPSO has just left Dubai Dry Docks to transit to the North Sea for its forthcoming Athena development which is due onstream in the second quarter this year, and it also has interests in the Beatrice and Jacky fields in the UK Inner Moray Firth.
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