Ithaca Energy Inc.: Completion of Acquisition of Interests in Three UK Producing Oil Fields

Ithaca Energy Inc.: Completion of Acquisition of Interests in Three UK 
Producing Oil Fields 
CALGARY, AB -- (Marketwired) -- 08/01/14 --  Ithaca Energy Inc. (TSX:
IAE) (LSE: IAE) 
Not for Distribution to U.S. Newswire Services or for Dissemination
in the United States 
Ithaca Energy Inc. 
Completion of Acquisition of Interests in three UK Producing Oil
Fields 
1 August 2014 
Ithaca Energy Inc. (TSX: IAE) (LSE: IAE) ("Ithaca" or the "Company")
is pleased to report that, further to the announcement made on 23
June 2014, it has now completed the acquisition of the three UK
producing oil field interests from Sumitomo Corporation ("Sumitomo"). 
Ithaca has acquired Summit Petroleum Limited ("SPL"), a subsidiary
company of Sumitomo, which holds the Cook (20.00%), Pierce (7.48%)
and Wytch Farm (7.43%) field interests that have been acquired. The
net consideration paid at completion was $163 million, taking into
account working capital and net cashflows since the transaction
effective date of 1 January 2014. 
- ENDS - 


 
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)203 727 1521 
Shannon Brushe       shannon.brushe@fticonsulting.com   +44 (0)203 727 1077 
                                                                            
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 

 
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.  
Not for Distribution to U.S. Newswire Services or for Dissemination
in the United States 
This information is provided by RNS
 The company news service from
the London Stock Exchange 
Contact:
RNS
Customer Services
0044-207797-4400
rns@londonstockexchange.com
http://www.rns.com 
 
 
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