Ithaca Energy Inc.
TSX : IAE
AIM : IAE

Ithaca Energy Inc.

July 02, 2012 02:00 ET

Ithaca Energy Inc.: Facility Agreement Executed for US$400 Million Debt Facility

LONDON, UNITED KINGDOM and CALGARY, ALBERTA--(Marketwire - July 2, 2012) -

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

Ithaca Energy Inc. (TSX:IAE)(AIM:IAE) announces that further to the announcement made on the May 28, 2012, the Company and BNP Paribas have executed the Senior Secured Borrowing Base Facility Agreement for the US$400 million underwritten debt facility being provided by BNP Paribas as Lead Arranger.

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.

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