Ithaca Energy Appoints New CFO

Ithaca Energy has appointed a permanent Chief Financial Officer to succeed Mr. Wood who has held the post of interim Chief Financial Officer since December 2009.

Mr. Graham Forbes, a Chartered Accountant, has been appointed as Ithaca's Chief Financial Officer. The early part of Mr. Forbes' career was spent with Price Waterhouse Coopers before moving to ExxonMobil where he held a number of leadership positions including Financial Reporting and Business Analysis Team Lead for the Esso Exploration & Production company. Mr. Forbes subsequently joined First Oil in 2002 as Finance Director where he was instrumental in building the company from a start up to one with production of up to 8,000 barrels of oil equivalent per day from 13 North Sea fields. In 2007, Mr. Forbes was promoted to Executive Director (CEO equivalent) of First Oil.