Ithaca Energy Inc. Announces Handcross Well Result

Ithaca Energy Inc. Announces Handcross Well Result 
CALGARY, AB -- (Marketwired) -- 02/12/14 --   Ithaca Energy Inc.
(TSX: IAE) (LSE: IAE) ("Ithaca" or the "Company") announces that the
exploration well on the Handcross prospect (204/18b-2A) has been
drilled to a total measured depth of 10,120 feet into the Tertiary,
Vaila Formation. No hydrocarbons were encountered in the target T36
or T35AA sands. The well is in the process of being plugged and
abandoned.  
Ithaca's share of the well cost is carried by the co-venturers that
farmed into the licence, which was transferred as part of the Valiant
Petroleum plc acquisition. 
The Handcross licence partners are Ithaca (25%, Operator), Edison
International SpA (25%), RWE Dea UK SNS Limited (20%), Sussex Energy
Limited (15%) and Oyster Petroleum Limited (15%). 
About Ithaca Energy
 Ithaca Energy Inc. (TSX: IAE) (LSE: IAE) is a
North Sea oil and gas operator focused on the delivery of lower risk
growth through the appraisal and development of UK undeveloped
discoveries, the exploitation of its existing UK producing asset
portfolio and a Norwegian exploration and appraisal business
targeting the generation of discoveries capable of monetisation prior
to development. Ithaca's strategy is centred on generating
sustainable long term shareholder value by building a highly
profitable 25kboe/d North Sea oil and gas company. For further
information please consult the Company's website
www.ithacaenergy.com.  
Forward-looking statements
 Some of the statements and information in
this press release are forward-looking. Forward-looking statements
and forward-looking information (collectively, "forward-looking
statements") are based on the Company's internal expectations,
estimates, projections, assumptions and beliefs as at the date of
such statements or information, including, among other things,
assumptions with respect to production, drilling, construction times,
well completion times, risks associated with operations, future
capital expenditures, future acquisitions and cash flow. The reader
is cautioned that assumptions used in the preparation of such
information may prove to be incorrect. When used in this press
release, the words "anticipate", "continue", "estimate", "expect",
"may", "will", "project", "plan", "should", "be
lieve", "could",
"target" and similar expressions, and the negatives thereof, whether
used in connection with operational activities, drilling plans,
production forecasts, budgetary figures, potential developments or
otherwise, are intended to identify forward-looking statements. Such
statements are not promises or guarantees, and are subject to known
and unknown risks, uncertainties and other factors that may cause
actual results or events to differ materially from those anticipated
in such forward-looking statements. The Company believes that the
expectations reflected in those forward-looking statements and are
reasonable but no assurance can be given that these expectations, or
the assumptions underlying these expectations, will prove to be
correct and such forward-looking statements and included in this
press release should not be unduly relied upon. These forward-looking
statements speak only as of the date of this press release. Ithaca
Energy Inc. expressly disclaims any obligation or undertaking to
release publicly any updates or revisions to any forward-looking
statement contained herein to reflect any change in its expectations
with regard thereto or any change in events, conditions or
circumstances on which any forward-looking statement is based except
as required by applicable securities laws.  
Additional information on these and other factors that could affect
Ithaca's operations and financial results are included in the
Company's Management's Discussion and Analysis for the year ended
December 31, 2012, and the Company's Annual Information Form for the
year ended December 31, 2012 and in reports which are on file with
the Canadian securities regulatory authorities and may be accessed
through the Company's profile on the SEDAR website (www.sedar.com). 
This information is provided by RNS 
The company news service from the London Stock Exchange 
Enquiries: 
Ithaca Energy
Les Thomas
lthomas@ithacaenergy.com
+44 (0)1224 650 261 
Richard Smith
rsmith@ithacaenergy.com
+44 (0)1224 652 172 
FTI Consulting
Edward Westropp
edward.westropp@fticonsulting.com
+44 (0)207 269 7230 
Georgia Mann
georgia.mann@fticonsulting.com
+44 (0)207 269 7212 
Cenkos Securities
Neil McDonald
nmcdonald@cenkos.com
+44 (0)131 220 6939 
Beth McKiernan
bmckiernan@cenkos.com
+44 (0)131 220 9778 
RBC Capital Markets
Tim Chapman
tim.chapman@rbccm.com
+44 (0)207 653 4641 
Matthew Coakes
matthew.coakes@rbccm.com
+44 (0)207 653 4871 
 
 
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