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Ithaca Energy Inc. Announces Officers' Share Purchase

CALGARY, AB -- (Marketwired) -- 08/28/14 -- Ithaca Energy Inc. (TSX: IAE) (LSE: IAE) ("Ithaca" or the "Company") announces that on 26 August 2014 the Officers of the Company increased their beneficial shareholdings in Ithaca through the purchase of Common Shares pursuant to the Company's Market Share Incentive Plan ("SIP"). These purchases were made by MM&K Share Plan Administration, the trustee of the SIP.

The individuals named below increased their beneficial shareholdings in the Company by a total of 20,070 Common Shares at a price of £ 1.345 per Common Share (the maximum permissible under the SIP) as follows:

Name            Designation          Common Shares          Resultant
                                     Purchased              Holding
Les Thomas      Officer & Director   4,014 shares           4,014 shares
Graham Forbes   Officer              4,014 shares           266,319 shares
Nicholas Muir   Officer              4,014 shares           24,119 shares
Mike Travis     Officer              4,014 shares           61,361 shares
John Woods      Officer              4,014 shares           313,119 shares

About Ithaca Energy
Ithaca Energy Inc. (TSX: IAE) (LSE: 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.

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

Richard Smith
[email protected]
+44 (0)1224 652 172

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

Shannon Brushe
[email protected]
+44 (0)203 727 1077

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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