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
provide an update to the Company's press release dated June 20th, 2013. Iona is
continuing to assess optimal market conditions for matching the Company's
capital requirements with triggering its proposed Senior Secured Callable Bond
Issue. In the meantime, the Company will continue to operate effectively under
its existing Senior Borrowing Base Facility and Structured Energy Derivative
Transaction. 


Additionally, the Sales and Purchase Agreement with Carrizo in respect of the
Huntington acquisition was amended such that Iona paid an agreed capital sum
with the outstanding balance being payable on or before December 31, 2013
subject to certain other terms.  


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. 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 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, including without limitation, the risk of unanticipated delays to
favourable bond market conditions. 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.


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
+44 1224 228400


Iona Energy Inc.
Graham A. Heath
Interim Chief Financial Officer
+44 7508 936982


Iona Energy Inc.
David Ricciardi
Investor Relations
403 978 4894

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