Ithaca Energy Inc: Statement of Claim Notice

ABERDEEN, UNITED KINGDOM--(Marketwired - May 28, 2015) - Ithaca Energy Inc (TSX: IAE) (LSE: IAE)

TSX: IAE; LSE: IAE
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Ithaca Energy Inc.

Statement of Claim Notice

28 May 2015

Ithaca Energy Inc. (TSX: IAE, LSE AIM: IAE) ("Ithaca" or the "Company") notes that it has received a Statement of Claim from a law firm that advertises itself as undertaking investor lawsuits. The Statement of Claim relates to purported misrepresentation of information regarding the past schedule for completion of the "FPF-1" floating production facility modification works being completed by Petrofac. The Company vigorously refutes any such allegations and strongly denies any suggested wrongdoing. The Company will be taking all necessary legal measures to defend itself against the Statement of Claim.

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Enquiries:

Ithaca Energy
Les Thomas lthomas@ithacaenergy.com +44 (0)1224 650 261
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
Jeremy Low jeremy.low@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