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Last C$0.77 CAD
Change Today +0.02 / 2.67%
Volume 81.3K
IAE On Other Exchanges
As of 10:07 AM 07/28/15 All times are local (Market data is delayed by at least 15 minutes).

ithaca energy inc (IAE) Snapshot

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08/8/14 - C$2.53
52 Week Low
03/18/15 - C$0.49
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ithaca energy inc (IAE) Details

Ithaca Energy Inc., together with its subsidiaries, engages in the exploration, development, and production of oil and gas in the North Sea. Its principal properties are located in the Northern, Central, and Sothern North Sea, as well as Moray Firth areas of the United Kingdom Continental Shelf; and Southern England. As of December 31, 2014, the company had proved and probable reserves of 70 million barrels of oil equivalent. Ithaca Energy Inc. was founded in 2004 and is headquartered in Aberdeen, the United Kingdom.

56 Employees
Last Reported Date: 03/31/15
Founded in 2004

ithaca energy inc (IAE) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: C$509.3K
Chief Financial Officer
Total Annual Compensation: C$464.3K
Chief Technical Officer
Total Annual Compensation: C$361.9K
Compensation as of Fiscal Year 2014.

ithaca energy inc (IAE) Key Developments

Ithaca Energy Inc. Announces Production Results for the Second Quarter and Six Months of 2015; Provides Production Results for the Third Quarter and Reiterates Production Guidance for the Full Year of 2015

Ithaca Energy Inc. announced production results for the second quarter and six months of 2015. For the quarter, the company announced average production of 12,667 barrels of oil equivalent per day. For the six months, the company announced average production of 12,578 boepd. For the full year of 2015, the company reiterated production guidance at 12,000 boepd (95% oil), taking into account planned maintenance shutdown activities in the second half of the year. For the third quarter of 2015, production will be below the average guidance level for the year as a result of planned maintenance shutdown activities on the host facilities serving a number of the company's fields.

London-AIM and Toronto Stock Exchange Shareholders Files Lawsuit against Ithaca Energy, Inc

Morganti Legal, P.C., announced that an investor has filed a shareholder lawsuit in Alberta against Ithaca Energy Inc. alleging that it made negligent statements about its investment quality between August 12, 2014 and February 24, 2015. The action seeks to provide access to justice to all investors regardless of their residency that purchased Ithaca Energy’s securities trade on the London-AIM, Toronto Stock Exchange, and over-the-counter exchanges in Germany and United States. The shareholders allege that Ithaca Energy’s statements made in its August 12, 2014, November 13, 2014, and January 12, 2015, contained misrepresentations. The shareholder’s allegations are supported by disclosures published by Petrofac Limited, which contradict some of Ithaca Energy’s representations. Specifically, that the modification program being performed by Petrofac Limited to the FPF-1 continued to fall materially behind schedule and would likely not be completed even within the revised timeline.

Ithaca Energy Inc. Announces Unaudited Consolidated Earnings and Production Results for the First Quarter Ended March 31, 2015; Reaffirms Production Guidance for the Full Year 2015

Ithaca Energy Inc. reported earnings results for the first quarter ended March 31, 2015. The company has reported that revenue was $70,375,000 compared to $99,640,000 for the same quarter ended March 31, 2014. Profit before tax was $8,433,000 compared to $4,560,000 for the same quarter ended March 31, 2014. Loss after tax was $26,078,000 or $0.08 per share compared to profit after tax was $16.365.000 or $0.05 per share, for the same quarter ended March 31, 2014. Cash flow from operations was $88,500,000 compared with $43,699,000 a year ago. Capital expenditure was $60,246,000 compared with $128,705,000 a year ago. For the quarter average production was 12,489 barrels of oil equivalent per day boepd. For the year 2015, the company expects production guidance of 12,000 boepd (95% oil).


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