Ithaca Energy Regulatory News (IAE)

FOR: ITHACA ENERGY INC.

TSX, AIM SYMBOL: IAE

June 28, 2012

Ithaca Energy Inc.: 2012 Annual & Special Meeting Presentation

LONDON, UNITED KINGDOM and CALGARY, ALBERTA--(Marketwire - June 28, 2012) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Ithaca Energy Inc. (TSX:IAE)(AIM:IAE) announces that an updated presentation of the Company's activities will be
provided at the 2012 Annual & Special Meeting of Shareholders. The presentation is available on the Company's website:
www.ithacaenergy.com.

The 2012 Annual & Special Meeting of Shareholders will be held today at 2:00 p.m. Calgary time, at The Bow Valley Club,
The John Lecky Room, 370, 250 - 6th Avenue S.W., Calgary, Alberta, Canada, T2P 3H7.

About Ithaca Energy:

Ithaca Energy Inc. and its wholly owned subsidiary Ithaca Energy (UK) Limited ("Ithaca" or "the Company") is an oil and
gas exploration, development and production company active in the United Kingdom's Continental Shelf ("UKCS"). The goal
of Ithaca, in the near term, is to maximize production and achieve early production from the development of existing
discoveries on properties held by Ithaca, to originate and participate in exploration and appraisal on properties held
by Ithaca when capital permits, and to consider other opportunities for growth as they are identified from time to time
by Ithaca.

FOR FURTHER INFORMATION PLEASE CONTACT:

Ithaca Energy Inc.
Iain McKendrick
CEO
+44 (0) 1224 650 261
imckendrick@ithacaenergy.com

OR

Ithaca Energy Inc.
Graham Forbes
CFO
+44 (0) 1224 652 151
gforbes@ithacaenergy.com
www.ithacaenergy.com

OR

Pelham Bell Pottinger Public Relations
Philip Dennis
+44 (0) 207 861 3919
pdennis@pelhambellpottinger.co.uk

OR

Pelham Bell Pottinger Public Relations
Rollo Crichton-Stuart
+44 (0) 207 861 3918
rcrichton-stuart@pelhambellpottinger.co.uk

OR

Cenkos Securities plc
Jon Fitzpatrick
+44 (0) 207 397 8900
jfitzpatrick@cenkos.com

OR

Cenkos Securities plc
Beth McKiernan
+44 (0) 131 220 6939
bmckiernan@cenkos.com

OR

RBC Capital Markets
Tim Chapman
+44 (0) 207 653 4641
tim.chapman@rbccm.com

OR

RBC Capital Markets
Matthew Coakes
+44 (0) 207 653 4871
matthew.coakes@rbccm.com

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