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Ithaca Energy Inc. Additional Shares Listing

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

CALGARY, AB -- (Marketwired) -- 04/14/14 -- Ithaca Energy Inc. (TSX: IAE) (LSE: IAE) (AIM: IAE) ("Ithaca" or the "Company") announces the listing of an additional 249,999 common shares in the Company.

Following the recent exercise of share options by Ithaca employees, the Company has issued and allotted a total of 249,999 common shares ("New Common Shares") and has applied for these New Common Shares to be admitted to trading on AIM. Admission of the New Common Shares is expected to occur on 18 April 2014. Each New Common Share will rank pari passu with the existing common shares.

Following the issue and allotment of the New Common Shares, the Company will have a total of 328,398,620 common shares in issue with one voting right per common share. There are no common shares held in treasury. The total number of voting shares in the Company is therefore 328,398,620. This figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the UK Financial Conduct Authority's Disclosure and Transparency Rules.

The total number of common shares under option is now 16,993,567, representing approximately 4.9% of the total shares outstanding and under option.

About Ithaca Energy

Ithaca Energy Inc. (TSX: IAE) (LSE: IAE) (AIM: IAE) is a North Sea oil and gas operator focused on the delivery of lower risk growth through the appraisal and development of UK undeveloped discoveries, the exploitation of its existing UK producing asset portfolio and a Norwegian exploration and appraisal business targeting the generation of discoveries capable of monetisation prior to development. Ithaca's strategy is centred on generating sustainable long term shareholder value by building a highly profitable 25kboe/d North Sea oil and gas company. For further information please consult the Company's website www.ithacaenergy.com.

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

Enquiries:

Ithaca Energy
Les Thomas
[email protected]
+44(0) 1224 650 261

Graham Forbes
[email protected]
+44 (0)1224 652 151

FTI Consulting
Edward Westropp
[email protected]
+44 (0)203 727 1521

Katherine Goligher
[email protected]
+44 (0)203 727 1203

Cenkos Securities
Neil McDonald
[email protected]
+44 (0)131 220 6939

Beth McKiernan
[email protected]
+44 (0)131 220 9778

RBC Capital Markets
Tim Chapman
[email protected]
+44 (0)207 653 4641

Matthew Coakes
[email protected]
+44 (0)207 653 4871

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