Officer Shareholding

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

Ithaca Energy Inc.

Officer Shareholding

19 May 2015

Ithaca Energy Inc. (TSX: IAE, LSE AIM: IAE) ("Ithaca" or the "Company") announces that it was notified on 19 May 2015 that Roy Buchan, Chief Operations Officer, purchased 13,400 Common Shares at £0.57 per share on 18 May 2015. His beneficial shareholding in the Company is now 13,400 Common Shares.

Enquiries:

Ithaca Energy

Graham Forbes gforbes@ithacaenergy.com +44 (0)1224 652 151

Richard Smith rsmith@ithacaenergy.com +44 (0)1224 652 172

FTI Consulting

Edward Westropp edward.westropp@fticonsulting.com +44 (0)203 727 1521

Tom Hufton tom.hufton@fticonsulting.com +44 (0)203 727 1625

Cenkos Securities

Neil McDonald nmcdonald@cenkos.com +44 (0)207 397 8900

Nick Tulloch ntulloch@cenkos.com +44 (0)131 220 6939

RBC Capital Markets

Daniel Conti daniel.conti@rbccm.com +44 (0)207 653 4000

Matthew Coakes matthew.coakes@rbccm.com +44 (0)207 653 4000

About Ithaca Energy

Ithaca Energy Inc. (TSX: IAE, LSE 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

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