H1-2018 Financial Results

28 Aug

Not for Distribution to U.S. Newswire Services or for Dissemination in the United States

Ithaca Energy Limited (IAECN: ISINs US465676AA22 / USC48677AA34) (“Ithaca” or the “Company”) announces its financial results for the six months ended 30 June 2018. The unaudited consolidated financial statements of the Company and associated Management Discussion and Analysis are available on the Company’s website.

H1-2018 Financial Results Conference Call

A conference call and webcast will be held today at 12.00 BST (07.00 EDT), with a playback facility being made available on the Company’s website later in the day. Listen to the call live via the Company’s website (www.ithacaenergy.com) or alternatively dial-in on one of the following telephone numbers: UK +44 (0)203 936 2999; US +1 845 709 8568 using the participant code 670432 to access the conference call. A short presentation to accompany the results will be available on the Company’s website prior to the call.

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Enquiries:

Ithaca Energy
Les Thomas
lthomas@ithacaenergy.com
+44 (0)1224 650 261

Graham Forbes
gforbes@ithacaenergy.com
+44 (0)1224 652 151

Richard Smith
rsmith@ithacaenergy.com
+44 (0)1224 652 172

FTI Consulting
Ben Brewerton
ben.brewerton@fticonsulting.com
+44 (0)203 727 1065

Emerson Clarke
emerson.clarke@fticonsulting.com
+44 (0)203 727 1564

About Ithaca Energy

Ithaca Energy Limited 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. The Company is a wholly owned subsidiary of the Tel Aviv stock exchange listed Delek Group Limited (TASE: DLEKG, US ADR: DGRLY), Israel’s leading integrated energy company. For further information please consult the Company’s website www.ithacaenergy.com.

Forward-looking Statements

This press release contains projections, information and other forward-looking statements (collectively “forward looking statements”) regarding future events and the Company’s future performance. All statements and information other than present and historical facts contained in this release are forward looking. When used in this press release, the words and phrases like “forecast”, "anticipate", "continue", "estimate", "expect", "may", "will", "project", "plan", "should", "believe", "could", “target”, “in the process of”, “on track” and similar expressions, and the negatives thereof, whether used in connection with production forecasts, operational activities, drilling plans, anticipated timing for the commencement of production from new fields and wells, budgetary figures, future operating costs, financing activities, anticipated net debt, anticipated funding requirements and uses of available credit under the Company’s debt facilities, potential developments including the timing and anticipated benefits of acquisitions and dispositions or otherwise, expected future payments in connection with such acquisitions and dispositions, statements relating to reserves, or otherwise, are intended to identify forward-looking statements. Forward-looking statements are based on the Company's current internal expectations, estimates, projections, assumptions and beliefs, including, among other things, assumptions with respect to production, drilling, construction and maintenance times, well completion times, risks associated with operations, future capital and operating expenditures, financing activities, continued availability of financing for future capital expenditures, future acquisitions and dispositions and cash flow, required regulatory, partner and other third party approvals. The reader is cautioned that assumptions used in the preparation of such information may prove to be incorrect. 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 at the date of this press release 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. Ithaca 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 six months ended 30 June 2018 and in reports which are on file on the Company’s website (www.ithacaenergy.com).

H1 2018 Financial Results