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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.http://www.rns-pdf.londonstockexchange.com/rns/8365Q_1-2012-11-12.pdf 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.comhttp://www.rns.com