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) is pleased to
announce today that the Department of Energy and Climate Change ("DECC") has
advised the Orlando joint venture partners that it has approved the Orlando
Field Development Plan ("FDP") submitted by the partners. The Orlando Field is
owned by Iona (Operator 75%) and Volantis Exploration (25%). Further, DECC has
approved Iona's application for Production Operator status. 


The Orlando Oil field lies approximately 10 Km north east of the Ninian Central
Platform and was successfully appraised with well 3/3b-11 (1989) and 3/3b-13
(2012) with sidetrack wells. 


Iona's Chief Executive Officer, Neill Carson, commented: "The Orlando Field
development approval is our first with Production Operator status and is an
important step as we push to deliver this project as early as possible. We will
continue to work with the supply chain and stakeholders in order to place the
remaining key contracts."


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 Iona's plans with respect to development of the Orlando
property, anticipated effects of the UK small field allowance, estimates of the
quantities of proved reserves, probable reserves, and possible reserves, as well
as estimates of the net present value of future net revenue of proved reserves,
probable reserves, and possible reserves. 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 Orlando expected
first oil, reserves, production, 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. 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) 1224 228400


Iona Energy Inc.
Graham Heath
Chief Financial Officer
+011 (44) 1224 228400

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