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Message: Ithaca Buys North Seas assets ..

With the purchase of some NS assets, they have added to the SH value by getting producing properties.

The value to SHers is about 900 boed. The nice thing about that is that they backdated the deal to Jan 1, 2010. When they close the deal, they will only pay the difference between the price and the production value.

Its a good start, Suncor will be offloading some of their NS non-core assets soon, stay tuned..

Andy

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