Ithaca has acquired the Yeoman discovery licence P2158 from Total, in March 2020. The deal was for a minimal consideration, plus contingent additional payment at Field Development Plan (FDP) approval and at an undisclosed reserves recovery threshold. P2158 covers 37.9 sq km on part block 15/18b and contains Yeoman oil and gas discovery made by 15/18b-11 (2005, Nexen, 2,286m), in very good quality Palaeocene Lower Balmoral turbidite sandstones at 1,600m TVD, with a 15m oil rim and gas cap. It lies adjacent to the S of P198 - 15/13a where Hibiscus Petroleum is planning to develop the Marigold oil discovery with an estimated 28 MMbo 2C contingent resources in Balmoral sands, which extends S into the P2158. Ithaca estimates 15 MMboe net additional resources from the two discoveries within P2158. It was awarded as part of the 28th round licencing round on December 2014 and Ithaca Oil and Gas Ltd is now 100% operator. 
United Kingdom, P2158