Ithaca Energy Inc.
TSX VENTURE : IAE
AIM : IAE

Ithaca Energy Inc.

May 19, 2011 02:00 ET

Ithaca Energy Inc.: 2011 Annual & Special Meeting Presentation

LONDON, UNITED KINGDOM and CALGARY, ALBERTA--(Marketwire - May 19, 2011) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Ithaca Energy Inc. (TSX VENTURE:IAE)(AIM:IAE) announces that an updated presentation of the Company's activities will be provided at the 2011 Annual & Special Meeting of Shareholders. The presentation contains details of the company's revised capital expenditure plans for 2011 which show an increase from $120 to $136 million to mainly cover the re-phasing of long lead items for the Stella project. The presentation is now available on the Company's website: www.ithacaenergy.com.

The 2011 Annual & Special Meeting of Shareholders will be held at the Petroleum Club, Viking Room, 319 - 5 Avenue S.W., Calgary, Alberta, Canada, at 3.30 p.m. on Thursday, May 19, 2011.

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.

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

Neither TSX Venture nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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