BRIEF-Ithaca Energy says full-year loss after tax of $25 mln

Tue Mar 31, 2015 2:56am EDT
 
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March 31 (Reuters) - Ithaca Energy Inc

* Production of 10,947 barrels of oil equivalent per day in 2014 increasing to over 12,500 BOEPD in 1st qtr of 2015, in line with 2015 full year guidance of 12,000 BOEPD

* Loss after tax of $25 million reflecting non-cash post-tax impairments of $173 million due to lower near term oil price assumptions

* Hedging gains of $175 million in 2014 - additional hedging taken out post year end to further strengthen future cashflows

* Has increased oil hedging protection since start of year to mitigate against impact of further brent price weakness Source text for Eikon: Further company coverage: