Share Name Share Symbol Market Type
Ithaca Energy Inc. TSXV:IAE TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.0% 0 -

Ithaca Energy Inc.: Management Addition

07/07/2011 7:00am

Marketwired Canada


Ithaca Energy Inc. (TSX VENTURE:IAE)(AIM:IAE) is pleased to announce the
appointment of Mr. Mike Travis as Chief Production Officer. Mr. Travis is
anticipated to commence employment as an officer of the Company at the beginning
of 2012.

Mike Travis (aged 51) has over 28 years of diverse offshore and onshore
experience in the oil industry which has been acquired in the North Sea and
other challenging international locations. He has held key leadership positions
throughout his career in all aspects of Production and Development projects
including asset management, drilling and operations. Mr. Travis has previously
been employed by BP, LASMO, Venture Production and more recently by Premier Oil.
He has a strong track record of generating outstanding team performance and
delivering results, throughout his career.

In accordance with the Company's Stock Option Plan, the Board of Directors
approved the granting of 400,000 share options to Mr. Travis at a price of
CDN$2.31 which was the closing price on the TSX Venture Exchange on Wednesday,
July 6th, 2011. Upon granting the options, the Company will have a total of
19,798,505 shares under option representing approximately 8 per cent of total
common shares outstanding and under option. On a fully diluted basis, the
Company will have 278,333,800 common shares on issue.

About Ithaca Energy:

Ithaca Energy Inc. and its wholly owned subsidiary Ithaca Energy (UK) Limited
("Ithaca" or "the Company"), is an oil and gas exploration, development and
production company active in the United Kingdom's Continental Shelf ("UKCS").
The goal of Ithaca, in the near term, is to maximize production and achieve
early production from the development of existing discoveries on properties held
by Ithaca, to originate and participate in exploration and appraisal on
properties held by Ithaca when capital permits, and to consider other
opportunities for growth as they are identified from time to time by Ithaca.

Forward-looking statements

Some of the statements in this announcement are forward-looking. Forward-looking
statements include statements regarding the intent, belief and current
expectations of Ithaca Energy Inc. or its officers with respect to various
matters. When used in this announcement, the words "expects," "believes,"
"anticipate," "plans," "may," "will," "should", "scheduled", "targeted",
"estimated" and similar expressions, and the negatives thereof, whether used in
connection with the anticipated start date of Mr. Travis or otherwise, are
intended to identify forward-looking statements. Such statements are not
promises or guarantees, and are subject to risks and uncertainties that could
cause actual outcome to differ materially from those suggested by any such
statements. These forward-looking statements speak only as of the date of this
announcement. Ithaca Energy Inc. expressly disclaims any obligation or
undertaking to release publicly any updates or revisions to any forward-looking
statement contained herein to reflect any change in its expectations with regard
thereto or any change in events, conditions or circumstances on which any
forward-looking statement is based except as required by applicable securities

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