/EINPresswire.com/ -- ABERDEEN, SCOTLAND -- (Marketwired) -- 07/01/16 --

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

Ithaca Energy Inc. (TSX: IAE) (LSE: IAE) ("Ithaca" or the "Company") announces that it has issued an additional 400,000 Common Shares in the Company resulting from the exercise of share options and has applied for these to be admitted to trading on AIM. Admission of the newly issued Common Shares is expected to occur on 7 July 2016. Each new Common Share will rank pari passu with the existing Common Shares.

Following the issue and allotment of the new Common Shares, the Company will have a total of 411,784,045 Common Shares in issue with one voting right per Common Share. There are no Common Shares held in treasury. The total number of voting shares in the Company is therefore 411,784,045. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the UK Financial Services Authority's Disclosure and Transparency Rules.

The total number of Common Shares under option is now 28,746,470, representing approximately 6.5% of the total shares outstanding and under option.

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

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