Ithaca Energy PLC (LSE:ITH)

£ 1.07 -0.01 (-0.96%) Market Cap: 1.76 Bil Enterprise Value: 2.22 Bil PE Ratio: 12.44 PB Ratio: 0.97 GF Score: 18/100

Q4 2022 Ithaca Energy PLC Earnings Call Transcript

Mar 30, 2023 / 08:00AM GMT

Release Date Price: £1.48 (-4.27%)

Transcript

Gilad Myerson

Ithaca Energy plc - Executive Chairman

So just as a reminder, my name is Gilad Myerson. I'm the exec chair, we have Alan Bruce, CEO; and Iain CFO, Catherine leading our IR. Thanks a lot for coming. It's very exciting for us. It's our first time we're publishing our end of year results for 2022. It's been a fantastic year. The way I would like to turn the session is half an hour will run through a presentation and leave the other half hour for Q&A.

I'll dive directly into the slide that summarizes where we are. So 2022 has been a transformational year for Ithaca. We completed 3 very significant acquisitions, the major one being Siccar Point, and we listed on the London Stock Exchange. If you look at the operational highlights, we produced 71,000 barrels per day and Q4 was 80,000 was operated guidance.

Captain EOR is progressing on plan. We're the only company that produces polymer in the North Sea. Abigail came online in October 2022. It was a fantastic development, 10 months from sanction to having first oil, successful drilling campaign at Jade, infill drilling at

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