INA

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


Iona Energy Inc. (TSX VENTURE:INA) announces an agreement was reached between
Iona, MPX North Sea Limited and Sorgenia (E & P) UK Limited, subject to
documentation, to reschedule the deferred consideration to a date no later than
the closing of the financing transactions announced in Iona's press release
dated December 28, 2012.


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.


Forward-looking statements

Some of the statements in this announcement are forward-looking, including
statements regarding the anticipated closing dates of two debt financing
transactions and statements regarding the dispute with MPX and Sorgenia.
Forward-looking statements include statements regarding the intent, belief and
current expectations of Iona Energy Inc. or its officers with respect to various
matters, including reserves, production, first oil, drilling activity or
otherwise. When used in this announcement, the words "expects," "believes,"
"anticipate," "plans," "may," "will," "should", "scheduled", "targeted",
"estimated" and similar expressions, and the negatives thereof, are intended to
identify forward-looking statements. Such statements are not promises or
guarantees, are based on various assumptions by Iona's management and are
subject to risks and uncertainties that could cause actual outcome to differ
materially from those suggested by any such statements, including without
limitation, the risk that closing of the debt financing transactions is delayed
or does not proceed as planned, and the risk that potential litigation is
determined adversely to Iona. These forward-looking statements speak only as of
the date of this announcement. Iona Energy Inc. expressly disclaims any
obligation or undertaking to release publicly any updates or revisions to any
forward-looking statement contained herein to reflect any change in its
expectations with regard thereto or any change in events, conditions or
circumstances on which any forward-looking statement is based except as required
by applicable securities laws. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
Iona Energy Inc.
Neill A. Carson
Chief Executive Officer
+011 (44)(0)1224 228400


Iona Energy Inc.
Brad G. Gunn
Chief Financial Officer
(403) 775-7442

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