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Media/Investor Relations
News Release
NOT FOR RELEASE IN THE UNITED STATES OR DISTRIBUTION TO US NEWS SERVICES
Ithaca Energy Announces New Chief Financial Officer
LONDON, U.K. – CALGARY, ALBERTA, March 25, 2008 – Ithaca Energy Inc. (LSE-AIM: IAE, TSX-V: IAE), a Canadian independent oil & gas company with exploration and development assets in the UK North Sea, is pleased to announce that Mr. Steven Turner has joined the company as Chief Financial Officer.
Mr. Turner is a UK Chartered Accountant and has seventeen years of experience in accounting, banking and Oil and Gas. Commencing in 1991, Mr. Turner spent three years with Coopers and Lybrand following which he joined the Bank of Montreal as a Director in their Global Project Finance Team. Subsequently he served British Gas in the UK and Singapore where he ultimately joined ABN Amro Bank as the Asian head of energy corporate finance. On return to the United Kingdom he joined Vienco Group, a private oil technology company in Aberdeen as Finance and Commercial Director.
Lawrie Payne, Ithaca Energy’s Chief Executive Officer commented:
“Ithaca is very pleased to have engaged the services of Steven who has all of the requisites to guide the company in its quest to develop and finance its projects at Athena, Jacky and Beatrice. He is well equipped to direct and execute the company’s financial obligations in all of its future activities. Mr. Turner will join the Ithaca team in Aberdeen immediately.”
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