ABERDEEN, SCOTLAND--(Marketwired - Aug 5, 2016) - Ithaca Energy Inc. (TSX: IAE) (LSE: IAE)
TSX: IAE; LSE: IAE
Not for Distribution to U.S. Newswire Services or for Dissemination in the United States
Ithaca Energy Inc.
FPF-1 Sail-Away
5 August 2016
Ithaca Energy Inc. (TSX: IAE) (LSE: IAE) announces that the "FPF-1" floating production facility has completed the final
marine system trials as planned and has commenced sail-away to the Stella field. The anticipated period from sail-away to Stella
first hydrocarbons is approximately three months.
About Ithaca Energy
Ithaca Energy Inc. (TSX: IAE) (LSE: IAE) is a North Sea oil and gas operator focused on the delivery of lower risk growth
through the appraisal and development of UK undeveloped discoveries and the exploitation of its existing UK producing asset
portfolio. Ithaca's strategy is centred on generating sustainable long term shareholder value by building a highly profitable
25kboe/d North Sea oil and gas company. For further information please consult the Company's website www.ithacaenergy.com.
Forward-looking Statements
Some of the statements and information in this press release are forward-looking. Forward-looking statements and
forward-looking information (collectively, "forward-looking statements") are based on the Company's internal expectations,
estimates, projections, assumptions and beliefs as at the date of such statements or information, including, among other things,
assumptions with respect to production, drilling, construction and maintenance times, well completion times, risks associated
with operations, future capital expenditures, continued availability of financing for future capital expenditures, future
acquisitions and dispositions and cash flow. The reader is cautioned that assumptions used in the preparation of such information
may prove to be incorrect. When used in this press release, the words and phrases like "anticipate", "continue", "estimate",
"expect", "may", "will", "project", "plan", "should", "believe", "could", "target", "schedule", "in the process of", "on
track","set to" and similar expressions, and the negatives thereof, whether used in connection with operational activities,
anticipated period from sail-way to Stella first hydrocarbons, or otherwise, are intended to identify forward-looking statements.
Such statements are not promises or guarantees, and are subject to known and unknown risks, uncertainties and other factors that
may cause actual results or events to differ materially from those anticipated in such forward-looking statements. The Company
believes that the expectations reflected in those forward-looking statements are reasonable but no assurance can be given that
these expectations, or the assumptions underlying these expectations, will prove to be correct and such forward-looking
statements included in this press release should not be unduly relied upon. These forward-looking statements speak only as of the
date of this press release. 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.
Additional information on these and other factors that could affect Ithaca's operations and financial results are included in
the Company's Management Discussion and Analysis for the quarter ended 31 March 2016 and the Company's Annual Information Form
for the year ended 31 December 2015 and in reports which are on file with the Canadian securities regulatory authorities and may
be accessed through the SEDAR website (www.sedar.com).
This Announcement Contains Inside Information