Additional Listing

Not for Distribution to U.S. Newswire Services or for Dissemination in the United States

Ithaca Energy Inc.

Additional Listing

London, UK - Calgary, Canada, March 2, 2011- Ithaca Energy Inc. (TSX Venture: IAE, LSE AIM: IAE) announces that, following recent exercises of options under the Company's stock option plan, the Company has applied for a total of 245,831 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.

It is expected that dealings in the New Common Shares will commence on 8 March 2011.

Enquiries:

Ithaca Energy:

Iain McKendrick, CEO [email protected] +44 (0) 1224 650 261

Nick Muir, CXO [email protected] +44 (0) 1224 650 267

John Woods, CDO [email protected] +44 (0) 1224 650 273

Pelham Bell Pottinger Public Relations:

Philip Dennis [email protected] +44 (0) 207 861 3919

Elena Dobson [email protected] +44 (0) 207 861 3147

Cenkos Securities plc:

Jon Fitzpatrick [email protected] +44 (0) 207 397 8900

Ken Fleming [email protected] +44 (0) 131 220 6939

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

Neither TSX Venture Exchange nor it's Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

-ENDS-