Ithaca Energy Inc. Announces Crathes Well Encounters Light Oil
The recent corporate acquisition of Challenger Minerals (North Sea) Limited by Ithaca included a dual target exploration opportunity in Block 21/13a alongside the Scolty and Torphins undeveloped discoveries. The primary exploration target is the Crathes prospect which lies within the Palaeocene section. The secondary target is the Moon prospect within the deeper Upper Jurassic section.
The operator, EnQuest, will evaluate the potential commerciality of the joint development of Scolty, Torphins and Crathes/Moon.
The Joint Venture Partners are: Enquest, operator (40%), Wintershall (E&P) (50%), Ithaca (10%).
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