IAE.L Regulatory News (IAE)

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

Ithaca Energy Inc. (the "Company")

Director Shareholdings

London, UK - Calgary, Canada, September 27, 2010- Ithaca Energy Inc. (TSX Venture: IAE, LSE AIM: IAE) was notified on September 25, 2010 that on July 26, 2010, John Summers' spouse acquired 3,000 common shares in the Company at a price of GBP £1.055 per common share. Further, John Summers received notification on September 25, 2010 that a holding of 66,700 common shares registered in his own name was transferred on September 22, 2010 into a Barclays Stockbrokers nominee account, with no change in beneficial ownership.

Following these transactions, John Summers' total revised beneficial holding in the Company is 214,700 Ordinary Shares, representing approximately 0.08 per cent of the issued share capital of the Company.

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