2009-08-15-2008-12-01-2008-12-01

Purchased 20% WI in Block 23/16c, part of U.K. North Sea Barbara discovery, gaining 1 MMBOE.

Dyas UK Ltd. has acquired a 20% interest in Block 23/16c, part of the Barbara discovery in the U.K. sector of the North Sea, from Ithaca Energy (UK) Inc., Calgary, (Toronto Venture; London Aim: IAE) a subsidiary of Ithaca Energy Ltd., for US$8.25 million. The sale represents Ithaca's entire interest in License P.749 which covers a portion of the Barbara discovery. In December 2007 the independent reserves auditors Sproule International allocated 1 million barrels of oil equivalent net to Ithaca's license interest in the license.