Ithaca Energy Inc.: Directors' Share Purchase

ABERDEEN, SCOTLAND -- (Marketwired) -- 05/27/16 -- Ithaca Energy Inc. (TSX: IAE) (LSE: IAE)

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

Ithaca Energy Inc.

Directors' Share Purchase

27 May 2016

Ithaca Energy Inc. (TSX: IAE, LSE AIM: IAE) ("Ithaca" or the "Company") announces that on 26 May 2016 the Officers of the Company increased their beneficial shareholdings through the purchase of Common Shares pursuant to the Company's all-employee Share Incentive Plan ("SIP"). Ithaca was also notified on 26 May 2016 that Alec Carstairs, Non-Executive Director, increased his beneficial shareholding in the Company through the purchase of Common Shares.

Share Incentive Plan Purchases The individuals named below increased their beneficial shareholdings in the Company by a total of 40,944 Common Shares at a price of £ 0.5275 per Common Share, being the maximum permissible under the SIP.

Name              Designation            Common Shares        Resultant
                                         Purchased            Holding
Les Thomas        Officer & Director     10,236 shares        224,117 shares
Graham Forbes     Officer                10,236 shares        286,422 shares
Roy Buchan        Officer                10,236 shares        33,497 shares
Richard Smith     Officer                10,236 shares        75,774 shares

These purchases were made by MM&K Share Plan Administration, the trustee of the SIP.

Non-Executive Director Share Purchase On 26 May 2016, Alec Carstairs purchased 60,000 Common Shares at £ 0.5176 per share, increasing his beneficial holding to 61,130 Common Shares.

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
Tom Hufton         [email protected]        +44 (0)203 727 1625

Cenkos Securities
Neil McDonald      [email protected]                +44 (0)207 397 8900
Nick Tulloch       [email protected]                 +44 (0)131 220 6939
Beth McKiernan     [email protected]               +44 (0)131 220 9778

RBC Capital Markets
Daniel Conti       [email protected]              +44 (0)207 653 4000
Matthew Coakes     [email protected]            +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 and the exploitation of its existing UK producing asset portfolio. 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

Contact:
RNS
Customer Services
0044-207797-4400
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http://www.rns.com

Source: Ithaca Energy Inc

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