Iona Energy Announces Its Senior Secured Bond Has Commenced Trading on the Nordic ABM

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 that its USD 275 million senior secured bonds (the "Bonds") issued by
its UK subsidiary Iona Energy Company (UK) plc (formerly Iona Energy Company
(UK) Limited) have commenced trading on the Nordic ABM. 




Bond Specifics                                                              
                                                                            
Issue name: Iona Energy Company (UK) 13/18 9.50% USD                        
Ticker: IEC01 PRO                                                           
Instrument ID: 1300924                                                      
ISIN: NO0010689763                                                          
Segment: OABM                                                               
Country: UK                                                                 
Trading currency: USD                                                       
Current outstanding principal amount: 275 mm, limited issue                 
Interest accrual date: 27.09.2013                                           
Maturity date: 27.09.2018                                                   
Coupon rate: 9.50% p.a.                                                     
Sector list: Foreign bonds (AFB)                                            
Managers: Pareto Securities                                                 
Central Securities Depository: VPS                                          



The Bonds mature on September 30, 2018 after a five year term. The Bonds carry
an annual coupon rate of 9.5% payable semi-annually, were issued at 97.5% of par
and are callable in whole or in part at the option of the Issuer at any time.
Commencing 30 months after the Settlement Date, the Bonds will amortize 15% of
the issue amount every six months with a 25% final payment at maturity. The
amortizations will be performed at the prevailing call option prices of 105%,
104%, 104%, 103% and 103% of par value with the residual amount payable at 102%
of par value.


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: 
Neill A. Carson, Chief Executive Officer
Telephone: [phone]


Graham A. Heath, Interim Chief Financial Officer
Telephone: [phone]


David Ricciardi, Manager, Investor Relations
Telephone: [phone]