Ithaca Energy Inc: Bond Consents Update

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ABERDEEN, SCOTLAND -- (Marketwired) -- 04/21/17 -- Ithaca Energy Inc (TSX: IAE) (LSE: IAE)

TSX: IAE, LSE AIM: IAE

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION (EU NO. 596/2014).

This communication is for information only and does not constitute an offer to sell or issue or the solicitation of an offer to buy or subscribe for securities in the United States of America, its territories and possessions, any State of the United States of America, and the District of Columbia (the "United States") or any other jurisdiction. None of the securities referred to in this communication will be registered under the U.S. Securities Act of 1933, as amended, and none of them may be offered or sold in the United States absent registration or an applicable exemption from the registration requirement. No money, securities or other consideration is being solicited, and, if sent in response to the information contained herein, will not be accepted.

Ithaca Energy Inc.

Bond Consents Update

21 April 2017

Ithaca Energy Inc. (TSX: IAE, LSE AIM: IAE) ("Ithaca" or the "Company") is pleased to announce that the conditions of the cash takeover offer for all the common shares of the Company not owned by Delek Group Ltd. ("Delek") or any of its affiliates for C$1.95 per share (the "Offer") have been satisfied and the Offer has been accepted by holders of approximately 70.3% of the issued and outstanding common shares, not including the common shares already owned by Delek or any of its affiliates prior to announcement of the Offer. Accordingly, the previously approved waiver and amendments to the change of control provisions included in the indenture governing the Company's $300 million 8.125% senior notes due July 2019 as they relate to the Offer and as further described in the consent solicitation statement dated 15 March 2017 are now operative and the consent payment as further described in the statement will now be paid on or before 25 April 2017.

The Company has engaged UBS Securities LLC to act as the Solicitation Agent for the solicitation. Questions from holders of Notes should be directed to UBS Securities LLC: +1-203-719-4210; ol-liability-management@ubs.com.

Under no circumstances shall the solicitation constitute an offer to sell or issue or the solicitation of an offer to buy or subscribe for any Notes in any jurisdiction.

Click on, or paste the following link into your web browser, to view the associated PDF document.

http://www.rns-pdf.londonstockexchange.com/rns/9569C_1-2017-4-21.pdf

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Marketwire: 07:26 GMT Friday 21st April 2017

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