up 5,000 boed from the Sept '09 presentationUnder key messages:
'Ithaca is now actively seekingopportunities to grow to ~20,000 boepd (2013 plan) both bystrengthening and diversifying its base and by adding new assets'
Under key 2010 activities:
'Growth
?? Continue acquisition / farm-in work as a priority'
I bet they're in discussions with both AEN & BUK. Check out the block acreage on BUK:
SouthTrent (BUK) lies in block 43 not far from Carna (partly 42/partly 43)and to the south of Trent IAE has some more acreage in block 43.
Durangoand Wherry lie in block 48 and IAE has some acreage there too.Furthermore Aspen is close to Durango to in block 47. A deal with BUKcould add 1500-2000 boepd, granted at current low gas prices but atthis stage BUK is living of a hedge and has the well shut in topreserve resreves, it runs until June.
A farm in with AEN onFyne would be mutually beneficial as well, if they farm in 25% (ofprojected 14.5 k bopd) it would be another 3600+ and they can poolmoney together (AEN has 30 mln cash) to get this one up & running.
Crucible rightly states:
'Ithaca has a production and development programme delivering net ~15,000 boepd by 2012
Ithacais now actively seeking opportunities to grow to ~20,000 boepd (2013plan) both by strengthening and diversifying its base and by adding newassets'
“Both are up 5,000 boed from the Sept '09presentation, but their production profile from "existing asset base"on slide 11 doesn't agree. “
Add my story up (or anyalternative variant of it) and it just might be your difference of 5kbetween the 20.000 boepd and 15.000 boepd from “existing asset base” –means they buy the rest.
Interestingly enough it also gives aclue on timing as the 2012 number is up 5000 boepd as well. So itshould be something on top of our current plans that’s executed by thattime.