Ithaca Energy Inc.: Director Share Purchase

ABERDEEN, SCOTLAND--(Marketwired - May 31, 2016) - Ithaca Energy Inc. (TSX: IAE) (LSE: IAE)

TSX: IAE

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

Ithaca Energy Inc.

Director Share Purchase

31 May 2016

Ithaca Energy Inc. (TSX: IAE, LSE AIM: IAE) ("Ithaca" or the "Company") announces that it was notified on 30 May 2016 that Jack C. Lee, Non-Executive Chairman, purchased 82,600 Common Shares at C$1.06 per share on 27 May 2016 and 16,900 Common Shares at C$1.07 on 30 May 2016. His beneficial holding is now 1,649,500 Common Shares, representing approximately 0.4% of the issued share capital of the Company.

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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)207 269 7230
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
Beth McKiernan		bmckiernan@cenkos.com		+44 (0)131 220 9778
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 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