Found the following on http://www.proactiveinvestors.co.uk website.
The good news is the expected throughput of 22000 barrels per day.
Fill er up please sir.
Cheers and beers, Rags
Saturday, June 02, 2012 Oil and gas news summary: Ithaca Energy, Dragon Oil, Europa Oil & Gas, Nighthawk, Gulf Keystone, Rockhopper Exploration, Aminex
This week, Three AIM quoted North Sea oil firms crossed an important milestone as the Athena oil field began producing oil.
Operations at the Ithaca (LON:IAE) operated field, which is located in the outer Moray Firth area, will now be ramped up as each of the field’s four production wells are brought on line.
Ithaca owns a 22 per cent stake in Athena and it believes that production will come in around 22,000 barrels a day.
Meanwhile, today’s news is also significant for Trapoil (LON:TRP) and Lochard Energy (LON:LHD). The former recently agreed a £34.5 million deal to buy a 15 per cent stake in the project, while the latter has a 10 per cent stake.
Trapoil chief Mark Groves Gidney this morning said it was ‘great news’ that Athena has now produced first oil.
“It is most encouraging that production has now commenced with the initial operations phase in line with Ithaca Energy's expectations,” he said.
LHD Price at posting:
15.0¢ Sentiment: Hold Disclosure: Held
