FOR:  ITHACA ENERGY INC.

AIM, TSX VENTURE SYMBOL:  IAE

May 4, 2010

Ithaca Energy Inc.: Board of Directors Appointment

LONDON, UNITED KINGDOM and CALGARY, ALBERTA--(Marketwire - May 4, 2010) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Ithaca Energy Inc. (TSX VENTURE:IAE)(AIM:IAE), ("Ithaca" or the "Company"), an independent oil & gas company
with exploration, development and production assets in the UK sector of the North Sea, is pleased to announce
the appointment of Mr. Ron Brenneman as non-executive director of the Company, subject to regulatory approval.

Mr. Brenneman is a senior member of the oil and gas community and was the President and Chief Executive Officer
of Petro-Canada for the period January 2000 to August 2009, at which time Petro-Canada was merged with Suncor
Energy. Under his leadership, Petro-Canada grew more than four fold to have a market capitalization of US$25
billion through its exploration, development and marketing activities around the globe.

Mr. Brenneman holds a Masters degree in Chemical Engineering and has served more than 30 years in the oil and
gas industry in particular with Imperial Oil and Exxon in Canada, Europe and the United States. He was General
Manager of worldwide corporate planning at Exxon's headquarters prior to retirement upon the Exxon/Mobil
merger.

In addition, Mr. Brenneman is a non-executive director of The Bank of Nova Scotia, Bell Canada and Westjet
Airlines and is active with several charitable organizations.

Disclosure

In relation to the appointment of Mr Ron Brenneman to the Board of Directors, Ithaca Energy Inc. confirms that
there is nothing further to disclose in relation to his appointment under Schedule Two, paragraph (g) of the
AIM Rules for Companies, save as disclosed below:

Full name: Ron Alvin Brenneman

Age:       63

In addition to his directorship of the Company, Mr Brenneman, or has been, a director or partner of the
following companies or partnerships, in the previous five years:

Current directorships/partnerships

--  Bank of Nova Scotia
--  Bell Canada
--  Westjet Airlines

Past directorships/partnerships

--  Petro-Canada

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.

FOR FURTHER INFORMATION PLEASE CONTACT:

Ithaca Energy:
Iain McKendrick, CEO
+44 (0) 1224 650 261
imckendrick@ithacaenergy.com

OR

Ithaca Energy:
Lawrie Payne, Chairman
+1 206 455 1825
lpayne@ithacaenergy.com

OR

Ithaca Energy:
Nick Muir, CXO
+44 (0) 1224 650 267
nmuir@ithacaenergy.com

OR

Pelham Bell Pottinger:
Philip Dennis
+44 (0) 207 337 1516
pdennis@pelhambellpottinger.co.uk

OR

Pelham Bell Pottinger:
Elena Dobson
+44 (0) 207 337 1517
edobson@pelhambellpottinger.co.uk

OR

Cenkos Securities plc:
Jon Fitzpatrick
+44 (0) 207 397 8900
jfitzpatrick@cenkos.com

OR

Cenkos Securities plc:
Ken Fleming
+44 (0) 131 220 6939
kfleming@cenkos.com

Neither TSX Venture nor its 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.

Ithaca Energy Inc.