INA

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
Brad Gunn, Chief Financial Officer ("CFO") of the Company, has resigned as CFO
and from the Company's Board of Directors for personal reasons.


Effective immediately, Graham Heath, currently Iona's VP Corporate Development,
has assumed the position of interim CFO.


Iona also announces that Don Copeland, currently a member of the Company's Board
of Directors, has been appointed as the non-executive chairman of the Board of
Directors. 


Neill Carson, Iona's Chief Executive Officer, commented "Iona's Board of
Directors and Management team wish to thank Brad for his tremendous hard work
and dedication since the start up of our company. We wish him well for the
future. Graham has been fully immersed in the Company's recent financing
arrangements and I'm confident that Iona is well positioned to maintain business
continuity throughout this organizational change."


About Iona Energy

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


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


Iona Energy Inc.
Graham Heath
Chief Financial Officer
(403) 605-6726

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