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


Ithaca Energy Inc. (TSX VENTURE:IAE)(AIM:IAE) confirms that its Financial
Statements for the 12 months ended December 31, 2010 have been mailed to
registered shareholders. 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. Copies of the Financial
Statements may be downloaded from the Company's website: www.ithacaenergy.com
and are available on the Company's SEDAR profile at www.sedar.com.


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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