DKL Investments Limited Acquires 81,865,425 Common Shares of Ithaca Energy Inc.

ST. HELIER, JERSEY--(Marketwired - Oct. 20, 2015) - DKL Investments Limited ("DKL"), a wholly-owned subsidiary of Delek Group Ltd ("Delek"), announces that it has closed the acquisition of, and now owns and controls 81,865,425 common shares ("Common Shares") of Ithaca Energy Inc. ("Ithaca") issued from treasury at a cash subscription price of C$1.05 per Common Share pursuant to a private placement offering ("Private Placement") representing, on a non-diluted basis, approximately 19.9% of the issued and outstanding shares of Ithaca, after giving effect to the Private Placement. DKL did not own or control any shares in the capital of Ithaca prior to the Private Placement.

The Common Shares were acquired by DKL pursuant to an investment agreement between DKL and Ithaca dated October 9, 2015 setting out the price and other terms of the subscription for Common Shares.

DKL acquired the Common Shares for investment purposes. DKL intends to assess, from time to time, its percentage holdings in Ithaca, and insofar as it deems it appropriate, based on market conditions and other circumstances and it is permissible in law, DKL will consider increasing or decreasing its holdings in Ithaca.

DKL is relying on the prospectus exemption contained in section 2.10 of National Instrument 45-106 - Prospectus Exemptions on the basis that the cash purchase price for the Common Shares was greater than C$150,000.

For further information and to obtain a copy of the early warning report which will be filed under applicable Canadian securities laws in connection with the Private Placement, please see Ithaca's profile on the SEDAR website at www.sedar.com.

For further information, or for a copy of the early warning report, see contact information below.