Handcross updateThis comment on Handcross was published over on III
(https://www.iii.co.uk/investment/detail?code=cotn:IAE.L&display=discussion&it=le)
IHS Energy reporting today that Handcross S. well 204/18b-2, 2A was spudded on the 27th. Dec 13 using Stena Carron DS. PTD 3,086m (Paleocene), target Vaila formation, 30-55 day well. I can't find the IHS relesase so can't confirm details. If true, we're looking at early to mid Feb for news from that prospect.
Ithaca now holds a 25% interest in this project and retains operatorship of the licences.
When combined with the previously announced Handcross farm-outs, Ithaca has a fully carried interest in the exploration well that is to be drilled on the prospect and in addition will receive cash payments from the various agreements.
Zorgon