SYS-CON MEDIA Authors: Adrian Bridgwater, Yeshim Deniz, Elizabeth White, Sean Houghton, Glenn Rossman

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Ithaca Energy Inc. - Additional Shares Listing

CALGARY, AB -- (Marketwired) -- 01/20/14 -- Ithaca Energy Inc. (TSX: IAE) (LSE: IAE) ("Ithaca" or the "Company") announces the listing of an additional 400,000 common shares in the Company.

Following the recent exercise of share options by Ithaca employees, the Company has issued and allotted a total of 400,000 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 24 January 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 326,548,621 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 326,548,621. 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 Services Authority's Disclosure and Transparency Rules.

The total number of common shares under option is now 18,843,566, representing approximately 5.5% of the total shares outstanding and under option.

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 centred on 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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Enquiries:

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)207 269 7230

Georgia Mann
[email protected]
+44 (0)207 269 7212

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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