03:46 PM EST - Ithaca Energy Inc. : announced the commencement of development drilling operations on the Stella field, with the first well on the field having been spudded
using the Ensco 100 heavy duty jack-up rig. The initial campaign involves the drilling and completion of four production wells on the Stella field prior to startup. Three horizontal wells are to be drilled into the oil rim of the field, along with one highly deviated gas-condensate well on the crest of the structure. Ithaca Energy Inc.
shares T.IAE are trading up $0.01 at $1.89.
