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, following recent
exercises of options under the Company's stock option plan, the Company has
applied for a total of 59,166 common shares ("New Common Shares") to be admitted
to trading on AIM. Each New Common Share will rank pari passu with the existing
common shares. 


Following this application, the Company will have 259,164,461 Common Shares
outstanding with one voting right per Common Share. There are no Common Shares
held by Ithaca in treasury. The total number of voting shares in the Company is
therefore 259,164,461. This figure may be used by shareholders in the Company as
the denominator for the calculations by which they will determine if they are
required to notify their interest in, or a change in their interest in, the
share capital of the Company under the UK Financial Services Authority's
Disclosure and Transparency Rules.


It is expected that dealings in the New Common Shares will commence on September
7, 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.


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