Ithaca Energy Announces Strategic Acquisition Of Offshore Canada Assets From Suncor

By Reuters News

Oct 4 (Reuters) - - ITHACA ENERGY: STRATEGIC ACQUISITION OF OFFSHORE CANADA ASSETS FROM SUNCOR~

- ITHACA ENERGY PLC - DEAL EXPECTED TO BE IMMEDIATELY ACCRETIVE TO ADJUSTED EBITDAX, FREE CASH FLOW AND DIVIDEND PER SHARE FROM COMPLETION

- ITHACA ENERGY - TO ACQUIRE PORTFOLIO OF CONVENTIONAL OFFSHORE OIL ASSETS FROM SUNCOR FOR UPFRONT CASH CONSIDERATION OF $860 MLN

- ITHACA ENERGY PLC - DEAL FOR UPFRONT CASH CONSIDERATION OF US$860 MLN, PLUS POTENTIAL OIL PRICE RELATED CONTINGENT CONSIDERATION OF UP TO US$250 MLN

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