Ithaca well test turns up trumps

Aim-listed oil and gas explorer Ithaca Energy yesterday said it has completed a successful well test in an area of the North Sea. The well flowed at a rate of 10,835 barrels of oil equivalent a day and the test confirmed the high oil content of the resource. “This is an enormous leap forward in de-risking of the…development and the creation of a major new production hub in the UK Central North Sea,” said chief executive Iain McKendrick.