Ithaca Energy Inc.: Directors' Share Purchase

ABERDEEN, SCOTLAND--(Marketwired - May 27, 2016) - 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 Purchased		Resultant 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	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