The 25/5-9 exploration well was drilled to 2,240 m and discovered a 21-m oil column in the Paleocene Heimdal formation. The well is located in a mature area of the Norwegian North Sea about 10 km from the Heimdal production hub.
Ithaca placed primary estimates for the discovery in a range of 3.1-12.5 million bbl of recoverable oil.
The company entered into an agreement to acquire 10% working interest in PL102 F/G from Total SA (40% as operator) in December 2013. Additional licensees for the PL102 F/G include Petoro (30%), Lotos Exploration and Production Norge (10%), and Det Norske Oljeselskap (10%).