Not for Distribution to U.S. Newswire Services or for Dissemination in the United States
Ithaca Energy Inc.
Chief Financial Officer Appointment
LONDON, U.K. - CALGARY, ALBERTA, March 25, 2010 - Ithaca Energy Inc. (LSE-AIM: IAE, TSX-V: IAE) and its
wholly owned subsidiary Ithaca Energy (UK) Limited ("Ithaca" or the "Company"), an independent oil & gas
company with exploration, development and production assets in the UK sector of the North Sea, announces
that it has appointed a permanent Chief Financial Officer to succeed Mr Wood who has held the post of
interim Chief Financial Officer since December 2009.
Mr Graham Forbes, a Chartered Accountant, has been appointed as Ithaca's Chief Financial Officer. The early
part of Mr Forbes' career was spent with Price Waterhouse Coopers before moving to ExxonMobil where he held
a number of leadership positions including Financial Reporting and Business Analysis Team Lead for the Esso
Exploration & Production company. Mr Forbes subsequently joined First Oil in 2002 as Finance Director where
he was instrumental in building the company from a start up to one with production of up to 8,000 barrels
of oil equivalent per day from 13 North Sea fields. In 2007, Mr Forbes was promoted to Executive Director
(CEO equivalent) of First Oil.
An orderly transition is planned for Q2 2010 between Mr Wood and Mr Forbes.
Enquiries:
Ithaca Energy:
Iain McKendrick, CEO imckendrick@ithacaenergy.com +44 (0) 1224 650 261
John Woods, CDO jwoods@ithacaenergy.com +44 (0) 1224 650 273
Nick Muir, CXO nmuir@ithacaenergy.com +44 (0) 1224 650 267
Pelham Bell Pottinger Public Relations:
Philip Dennis pdennis@pelhambellpottinger.co.uk +44 (0) 207 337 1516
Elena Dobson edobson@pelhambellpottinger.co.uk +44 (0) 207 337 1517
Cenkos Securities plc:
Jon Fitzpatrick jfitzpatrick@cenkos.com +44 (0) 131 220 9773
Ken Fleming kfleming@cenkos.com +44 (0) 131 220 9772
Not for Distribution to U.S. Newswire Services or for Dissemination in the United
States
Forward-looking statements
Some of the statements in this announcement are forward-looking. Forward-looking statements include
statements regarding the intent, belief and current expectations of Ithaca Energy Inc. or its officers with
respect to various matters. When used in this announcement, the words "expects," "believes," "anticipate,"
"plans," "may," "will," "should", "scheduled", "targeted", "estimated" and similar expressions, and the
negatives thereof, are intended to identify forward-looking statements. Such statements are not promises or
guarantees, and are subject to risks and uncertainties that could cause actual outcome to differ materially
from those suggested by any such statements. These forward-looking statements speak only as of the date of
this announcement. Ithaca Energy Inc. expressly disclaims any obligation or undertaking to release publicly
any updates or revisions to any forward-looking statement contained herein to reflect any change in its
expectations with regard thereto or any change in events, conditions or circumstances on which any forward-
looking statement is based except as required by applicable securities laws.
Neither TSX Venture 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-
Ithaca Energy Inc.