The Board of Directors of Valiant Petroleum says that the High Court of Justice of England and Wales has on 18 April 2013, made an order (the "Court Order") sanctioning the Scheme by which the acquisition of Valiant by Ithaca Energy Holdings (UK) Limited, a wholly-owned subsidiary of Ithaca Energy Inc. ("Ithaca"), is being implemented and confirming the Reduction of Capital.

In order for the Scheme to become effective, the Court Order relating to the Scheme and the associated Reduction of Capital must be delivered to the Registrar of Companies. It is expected that the Court Order will be delivered to the Registrar of Companies tomorrow, 19 April 2013, and accordingly the Scheme will become effective on that date.

Tags: Ithaca Energy Inc., Valiant Petroleum Limited