U.S. Markets open in 3 hrs 22 mins

Third Quarter 2012 Financial Results

ABERDEEN, SCOTLAND--(Marketwire - Nov 12, 2012) -

TSX-V:IAE Not for Distribution to U.S. Newswire Services or for Dissemination in the United States Ithaca Energy Inc.     Third Quarter 2012 Financial Results Ithaca Energy Inc. (TSX: IAE, LSE AIM: IAE) announces its quarterly financial results for the three months ended September 30, 2012. HIGHLIGHTS Financial * Q3 profit before tax and unrealised gains/losses on financial instruments of $14.9 million (Q3 2011: $15.6 million) representing an increase of $10.5 million on Q2 2012 (Q2 2012: $4.4 million) * Q3 net earnings of $4.9 million including $12.9 million unrealised loss from financial instruments (Q3 2011: $16.0 million) resulting in earnings per share of $0.02 (Q3 2011: $0.06) * Q3 cashflow from operations of $30.1 million (Q3 2011: $18.1 million). Q3 cashflow per share of $0.12 (Q3 2011: $0.07) * Q3 average realised oil price of $110.26 / bbl (Q3 2011: $111.24 / bbl) plus an additional realized hedging gain of $2.56 / bbl in the quarter * Cash of $77.4 million, inclusive of $20.6 million restricted cash, with senior debt facility remaining undrawn * UK tax allowances pool of $387 million representing an increase of $39 million on Q2 2012 (Q2 2012: $348 million) Click on, or paste the following link into your web browser, to view the associated PDF document. http://www.rns-pdf.londonstockexchange.com/rns/8365Q_1-2012-11-12.pdf This information is provided by RNS The company news service from the London Stock Exchange END