2010-04-09-2010-02-16

Acquired 95% WI in 2 Central North Sea blocks.

Maersk Oil North Sea UK Ltd., Copenhagen, has acquired a 95% interest in two blocks in the U.K. North Sea from Ithaca Energy Inc., Calgary, (Toronto Venture, London AIM: IAE) in exchange for drilling commitments.

The farm-in agreement covers the deep section of blocks 29/4b and 29/5e below the Base Chalk horizon in the Central North Sea; Ithaca retains a 100% interest in the shallow section.

Maersk will serve as the operator of the high-pressure, high-temperature play. Ithaca says that the play in blocks immediately to the north is home to producing fields such as Elgin/Franklin and Shearwater.