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Press release from Marketwire

Third Quarter 2012 Financial Results

Monday, November 12, 2012

Third Quarter 2012 Financial Results02:00 EST Monday, November 12, 2012ABERDEEN, SCOTLAND--(Marketwire - November 11, 2012) -TSX-V:IAENot for Distribution to U.S. Newswire Services or for Dissemination in the United States Ithaca Energy Inc. Third Quarter 2012 Financial ResultsIthaca Energy Inc. (TSX: IAE, LSE AIM: IAE) announces its quarterlyfinancial results for the three months ended September 30, 2012.HIGHLIGHTSFinancial- Q3 profit before tax and unrealised gains/losses on financial instruments of $14.9 million (Q3 2011: $15.6 million) representing an increase of $10.5 million on Q2 2012 (Q2 2012: $4.4 million)- Q3 net earnings of $4.9 million including $12.9 million unrealised loss from financial instruments (Q3 2011: $16.0 million) resulting in earnings per share of $0.02 (Q3 2011: $0.06)- Q3 cashflow from operations of $30.1 million (Q3 2011: $18.1 million). Q3 cashflow per share of $0.12 (Q3 2011: $0.07)- Q3 average realised oil price of $110.26 / bbl (Q3 2011: $111.24 / bbl) plus an additional realized hedging gain of $2.56 / bbl in the quarter- Cash of $77.4 million, inclusive of $20.6 million restricted cash, with senior debt facility remaining undrawn- UK tax allowances pool of $387 million representing an increase of $39 million on Q2 2012 (Q2 2012: $348 million)Click on, or paste the following link into your web browser, to viewthe associated PDF document. This information is provided by RNS The company news service from the London Stock ExchangeENDFOR FURTHER INFORMATION PLEASE CONTACT: Contact Information: RNSCustomerServices0044-207797-4400rns@londonstockexchange.com