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 an
operational update related to its Huntington Oil Field located in the UK North
Sea. 


Huntington Production

Iona has been notified by the operator of the Huntington Field, E.ON Ruhrgas UK
E&P, that production was temporarily shut-in on August 8th, 2013, due to
operational safety procedures associated with the production facility,
specifically relating to cargo tank venting activities during low wind
conditions. Prior to the shut-in, Huntington Field production peaked at around
26,700 boepd. Production is expected to resume during the week of August 18th.
Additionally, as soon as the full commissioning and stabilization of the second
gas compression stream occurs, referred to as Train A, production from the
Huntington Field is expected to reach full capacity. This commissioning is
unaffected by the temporary shutdown and is still expected to occur before the
end of August 2013.


As mentioned above, production from the Huntington Oil Field peaked at
approximately 26,700 boepd gross (23,364 bopd of oil and 19.6 MMcfpd of natural
gas), prior to the shut-in, representing 4,700 boepd for Iona's net economic
interest of 17.55%. Iona's overall corporate production is expected to increase
to over 7,500 boepd as Huntington reaches full capacity. 


The working interests in the Huntington field are E.ON Ruhrgas UK E&P (25%
Operator), Premier Oil plc (40%), Norwegian Energy Company ASA (20%), and Iona
(15%). In addition to the working interest, Iona holds a gross overriding
royalty of 2.55% of the total Huntington production, payable from the Huntington
Joint Venture Partners.


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 business plans and production levels.
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, including the assumption with respect to the timing and
effects of commissioning gas compression systems for Huntington which are beyond
Iona's control, 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 impacting
production rates at Huntington. 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.


Notes Regarding Oil and Gas Disclosure 

As used in this press release, "boe" means barrel of oil equivalent on the basis
of 6 mcf of natural gas to 1 bbl of oil. Boes may be misleading, particularly if
used in isolation. A boe conversion ratio of 6 mcf: 1 bbl is based on an energy
equivalency conversion method primarily applicable at the burner tip and does
not represent a value equivalency at the wellhead. 


Additionally, this press release uses certain abbreviations as follows:



Oil and Natural Gas Liquids            Natural Gas                          
                                                                            
bbls     barrels                       mcf      thousand cubic feet         
                                                                            
MMbbls   millions of barrels           MMcf     million cubic feet          
                                                                            
MMboe    million barrels of oil        MMcfpd   million cubic feet per day  
         equivalent                                                         
                                                                            
                                                                            
boepd    barrels of oil equivalent per                                      
         day                                                                
                                                                            
bopd     barrels of oil per day                                             



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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