Mr. Les Thomas reports

ITHACA ENERGY INC: STATEMENT OF CLAIM NOTICE

Ithaca Energy Inc. has received a statement of claim from a law firm that advertises itself as undertaking investor lawsuits. The statement of claim relates to purported misrepresentation of information regarding the past schedule for completion of the FPF-1 floating production facility modification works being completed by Petrofac. The company vigorously refutes any such allegations and strongly denies any suggested wrongdoing. The company will be taking all necessary legal measures to defend itself against the statement of claim.