LONDON, UNITED KINGDOM and CALGARY, ALBERTA--(Marketwire - June 12, 2012) -

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

Ithaca Energy Inc. (TSX:IAE)(AIM:IAE) confirms that its Financial Statements for the 12 months ended December 31, 2011 and Information Circular dated June 4, 2012 have been mailed to registered shareholders. The 2012 Annual & Special Meeting of Shareholders will be held at The Bow Valley Club, The John Lecky Room, 370, 250 - 6th Avenue S.W., Calgary, Alberta, Canada, T2P 3H7, on Thursday, June 28, 2012 at 2:00 p.m. (Calgary time). Copies of the Financial Statements and Information Circular 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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