INA

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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

In mid-September 2013, Iona was advised by the Operator of the Huntington Field,
E.ON E&P, that production would be temporarily reduced to approx. 40% of
Huntington's Floating Production Storage and Offloading (FPSO) vessel's
nameplate capacity due to curtailment of the flow of Huntington gas implemented
by the Operator of the Central Area Transmission System (CATS). The Huntington
Joint Venture Partners continue to work diligently through E.ON as Operator to
gain clarity around the production restrictions imposed on Huntington. Previous
guidance from the CATS Operator from September indicated an imminent return to
full production in October. Current prognosis is that ramp-up from today's
levels will now commence in early November. Since the restriction, the
Huntington field and FPSO continue to operate efficiently and have produced to
the maximum capacity possible under the curtailment.


BP plc, as Operator of CATS, imposed the restrictions when off-specification
pipeline gas from an unknown source was delivered to the terminal. CATS is a
"wet" natural gas transportation system used to export from Huntington and other
UK North Sea fields to Teesside in Northern England. This restriction on gas
export has necessitated a proportionate cutback in Huntington's oil production.


Based on analysis commissioned by the Huntington Operator, Iona believes that
gas produced from the field is to the specification agreed under the
Transportation and Processing Agreement signed with BP in July 2011. BP have
indicated that due to the shutdown of other fields within the CATS system,
Huntington has been restricted until such time as dry gas fields resume
production, thereby allowing a blend of dry and wet gas streams. BP further
indicates that constraints imposed on Huntington are likely to be lifted
progressively from early November as the drier gas fields come out of
maintenance shutdowns. Prior to the curtailment of production, Huntington was
producing at its full capacity of 30,000 barrels of oil per day and 27 MMcf of
gas per day.


The working interests in the Huntington field are E.ON 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.


Robin Baxter, Iona's VP Business Development commented: "Discussions between the
CATS Operator and E.ON convince Iona that production restrictions within the
CATS system, which has a remarkable 99.2% historical uptime, are temporary. BP
has advised that the ramp-up of Huntington production in the near-term is
possible. Under the existing transportation and processing agreement, Huntington
gas delivered within specification should normally be accepted into the CATS
pipeline despite maintenance and shutdown arrangements at other fields exporting
through the CATS system. This temporary curtailment in Huntington production has
limited impact on the long-term value of this field."


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 of
certain events relating to 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.


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
+1 403 978 4894

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