Iona Energy Announces Organizational 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), announces that Rod
Begbie, Chief Financial Officer of the Company, has resigned as CFO, as the
Company and Mr. Begbie were not able to agree upon mutually satisfactory terms
in relation to Mr. Begbie's contract of employment with the Company. 


Effective immediately, Graham Heath, currently VP Corporate Development, has
resumed the position of Interim CFO.


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]