Iona Energy Announces Huntington Operational Update

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR DISSEMINATION IN
UNITED STATES 


Iona Energy Inc. ("Iona" or the "Company") (TSX VENTURE:INA) is pleased to
announce an operational update related to its Huntington Oil Field
("Huntington") located in the UK North Sea. Production at Huntington has
returned to full capacity of approximately 30,000 bbls/d of oil and 25 MMscf/d
of natural gas (5,265 bbls/d of oil and 4.4 MMscf/d of gas, 5,996 boe/d net to
Iona) following the lifting of gas export restrictions at the BP Operated
Central Area Transmission System ("CATS"). Outside of a brief period of
disruption during extreme weather conditions between December 5th and 7th, the
Huntington reservoir and Floating Production Storage and Offloading vessel have
continued to perform steadily. Since coming on stream in April of 2013, thirteen
cargos have departed Huntington and been sold at average realized oil prices
attracting slight premiums to Brent. 


The working interests in the Huntington field are E.ON E&P UK Ltd (25%
Operator), Premier Oil plc (40%), Norwegian Energy Company ASA (20%), and Iona
(15%). In addition to the working interest, Iona holds a gross overriding
royalty of 2.55% of the total Huntington production, payable from the Huntington
Joint Venture Partners.


Additional information relating to the Company is available on SEDAR at
www.sedar.com.


About Iona Energy: 

Iona is an oil and gas exploration, development and production company focused
on oil and gas development and exploration in the United Kingdom's North Sea.


Notes Regarding Oil and Gas Disclosure 

As used in this press release, "boe" means barrel of oil equivalent on the basis
of 6 mcf of natural gas to 1 bbl of oil. Boes may be misleading, particularly if
used in isolation. A boe conversion ratio of 6 mcf: 1 bbl is based on an energy
equivalency conversion method primarily applicable at the burner tip and does
not represent a value equivalency at the wellhead.  


Additionally, this press release uses certain abbreviations as follows:



Oil, Natural Gas Liquids       Natural Gas                                  
----------------------------   ---------------------------------------------
bbls       barrels             MMscf     million standard cubic feet        
                                                                            
bbls/d     barrels per day     MMscf/d   million standard cubic feet per day
                                                                            
                               boe/d     barrels of oil equivalent per day  



Neither the TSX Venture Exchange Inc. nor its Regulation Services Provider (as
that term is defined in policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Iona Energy Inc.
Neill A. Carson
Chief Executive Officer
[phone]


Iona Energy Inc.
Graham A. Heath
Interim Chief Financial Officer
403 605 6726


Iona Energy Inc.
David Ricciardi
Investor Relations
403 978 4894