Iona Energy Inc. Announces Refiling of MD&A

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


Iona Energy Inc. ("Iona" or the "Company") (TSX VENTURE:INA) announces that it
has filed an amended and restated MD&A for the three and nine month periods
ended September 30, 2013. The amendments to the MD&A are a result of a
typographical error in the highlights section of the MD&A where the cash flow
was referenced to a three month period instead of a nine month period.


As the Company believes that these amendments will provide useful information
for investors it has refiled an amended and restated MD&A correcting the
typographical error as well as reporting the three month cash flow for the
period ended September 30, 2013.


The changes are as follows:

Page 1 - Under "Highlights Third Quarter 2013", (reported) Cash flow from
operations of CAD$12.3 million for the three months ended September 30, 2013
prior to changes in non-cash working capital balances.


Page 1 - Under "Highlights Third Quarter 2013", Cash flow from operations of
CAD$3.9 million for the nine months (instead of three months) ended September
30, 2013 prior to changes in non-cash working capital balances.


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.


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 CFO
[phone]


Iona Energy Inc.
David Ricciardi
Investor Relations
[phone]