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Cook Field Acquisition Completion

ABERDEEN, SCOTLAND -- (Marketwire) -- 02/05/13 --



TSX-V:IAE


Not for Distribution to U.S. Newswire Services or for Dissemination in
the United States


                          Ithaca Energy Inc.

                  Cook Field Acquisition Completion

                            5 February 2013

Ithaca Energy Inc. (TSX: IAE, LSE AIM: IAE) announces that further to
the press release made on 9 October 2012, the Company has completed the
acquisition of the wholly owned UK subsidiary company of Noble Energy
Capital Limited (a subsidiary of Noble Energy Inc., NYSE: NBL), which
owns the 12.885% non-operated interest in the Cook field. Following
the transaction, the Company now holds a 41.345% in the Cook field.



Enquiries:

Ithaca Energy:
Iain McKendrick, CEO imckendrick@ithacaenergy.com  +44 (0) 1224 650 261
Graham Forbes, CFO   gforbes@ithacaenergy.com      +44 (0) 1224 652 151

FTI Consulting:
Billy Clegg      billy.clegg@fticonsulting.com     +44 (0) 207 269 7157
Edward Westropp  edward.westropp@fticonsulting.com +44 (0) 207 269 7230
Georgia Mann     georgia.mann@fticonsulting.com    +44 (0) 207 269 7212

Cenkos Securities plc:
Jon Fitzpatrick  jfitzpatrick@cenkos.com           +44 (0) 207 397 8900
Ken Fleming      kfleming@cenkos.com               +44 (0) 131 220 6939

RBC Capital Markets:
Tim Chapman      tim.chapman@rbccm.com             +44 (0) 207 653 4641
Matthew Coakes   matthew.coakes@rbccm.com          +44 (0) 207 653 4871


About Ithaca Energy:

Ithaca Energy Inc. (TSX: IAE, LSE AIM: IAE) and its wholly owned
subsidiary Ithaca Energy (UK) Limited ("Ithaca" or "the Company"), is
an oil and gas operator focused on North Sea production, appraisal and
development activities. The Company's strategy is centred on building
a highly profitable North Sea oil and gas company by maximising
production and cashflow from its existing assets, the appraisal and
development of existing discoveries on properties held by the Company
and the delivery of additional growth via acquisitions and licence
round participation.

Not for Distribution to U.S. Newswire Services or for Dissemination in
the United States

Forward-looking statements

Some of the statements in this announcement are forward-looking.
Forward-looking statements include statements regarding the intent,
belief and current expectations of Ithaca Energy Inc. or its officers
with respect to various matters. When used in this announcement, the
words "anticipate", "continue", "estimate", "expect", "may",
"will","project", "plan", "should", "believe", "could", "target" and
similar
expressions, and the negatives thereof., whether used in connection
with operational activities, production forecasts, budgetary figures
contained in the corporate presentation, potential developments or
otherwise, are intended to identify forward-looking statements. Such
statements are not promises or guarantees, and are subject to known and
unknown risks and uncertainties and other factors that may cause actual
results or events to differ materially from those anticipated in such
forward-looking statements or information. These forward-looking
statements speak only as of the date of this announcement. Ithaca
Energy Inc. expressly disclaims any obligation or undertaking to
release publicly any updates or revisions to any forward-looking
statement contained herein to reflect any change in its expectations
with regard thereto or any change in events, conditions or
circumstances on which any forward-looking statement is based except as
required by applicable securities laws.



                              -ENDS-

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