ITHACA EF LIMITED

• ◆

  2 PSCs ceased in last 24 months

  Significant control changed hands — see the Ownership section.

Figures converted to GBP from USD at 0.748 per USD (Frankfurter spot rate) — hover any figure for the original. — indicates the figure wasn't present under that line item in that period. About these numbers

• Turnover

  -4.9%

  £431,326,157 → £410,221,275

• Cash

  -88.5%

  £121,954,100 → £14,012,858

• Net assets

  -52.2%

  £139,339,912 → £66,647,230

• Employees

  —

  Not reported

• Operating profit

  -44.1%

  £341,655,827 → £190,823,054

• Profit before tax

  -48.2%

  £349,748,075 → £181,252,149

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

1. ITHACA EF LIMITED 2024-12-18 → present
2. ENI ELGIN/FRANKLIN LIMITED 2003-04-10 → 2024-12-18
3. AGIP ELGIN/FRANKLIN LIMITED 2000-12-14 → 2003-04-10
4. BRITISH-BORNEO ELGIN/FRANKLIN LIMITED 1999-08-05 → 2000-12-14
5. PRECIS (1756) LIMITED 1999-05-18 → 1999-08-05

Accounting basis

FRS 101

Reporting scope

Standalone (parent only)

Auditor

Deloitte LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The Directors consider the preparation of the financial statements on a going concern basis to be appropriate. This is due to the following key factors relevant to the assessment of the Group's ability to continue as a going concern and therefore its ability to provide support if required to the Company: Continuing robust commodity price backdrop and a well hedged portfolio over the next 12 months; Reserves Based Lending ("RBL") liquidity headroom of $1,220 million ($80 million drawn versus $1.3 billion available), plus circa $272 million cash at the end of November 2025; and Resilient operational performance and well-diversified portfolio.”

Group structure

1. ITHACA EF LIMITED · parent
   1. Ithaca UKCS Limited 100% · UK · Oil and Gas Exploration, Production and Decommissioning

Significant events

• “On 3 October 2024, following the successful completion of the business combination between Ithaca Energy PLC and ENI UK, Eni Elgin/Franklin Limited became part of the Ithaca Energy group of companies.”
• “On 18 December 2024, the Company changed its name from Eni Elgin/Franklin Limited to Ithaca EF Limited.”
• “On 29 August 2024, the Company acquired the entire share capital of Ithaca UKCS Limited, formerly Eni UKCS Limited, from its former immediate parent Eni U.K. Limited.”
• “On 25 June 2024, the Company's former directors passed a resolution to transfer the capital contribution reserve, recognised as distributable, to retained earnings. Subsequent to the transfer, the Company paid a dividend to its former immediate parent company, Eni U.K. Limited, on 27 June 2024.”
• “On 20th January 2025, the issued share capital of the Company was transferred from Ithaca Energy PLC to Ithaca Energy (E&P) Limited, a company registered in Jersey, and on 28th March 2025, the issued share capital was then transferred from Ithaca Energy (E&P) Limited to Ithaca Energy (UK) Limited.”
• “On 29th January 2025, the Group announced a reorganisation and streamlining of the organisational structure for onshore staff with a targeted completion of 1 July 2025. There is no significant impact on the Company as the Company has no employees.”
• “On 28 February 2025, the Company transferred its equity interest in Elgin Franklin and Jade to fellow group company Ithaca SP E&P Limited.”
• “On 25 March 2025, the Company transferred its equity interest in Talbot to fellow group company Ithaca GSA Limited.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

5

last 12 months

Capital events

0

last 24 months

Officers appointed

0

last 12 months

Officers resigned

0

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.