Iona Energy Inc.

Huntington Update

CALGARY, ALBERTA--(Marketwired - Dec. 19, 2014) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR DISSEMINATION IN UNITED STATES

Iona Energy Inc. ("Iona" or the "Company") (TSX VENTURE:INA), a Canadian independent oil & gas company with assets in the UK North Sea makes the following announcement regarding production at the Huntington field.

The Company has been informed that a temporary approval has been granted to resume production at a reduced rate at the field. The field is now on stream and Iona estimates average daily production net to the Company will be approximately 1,000 barrels of oil equivalent per day whilst operating under the current restriction.

The field will not be running at full production until the CATS system has been restored and early indications from the CATS Operator suggests that normal operations at the system will not commence until the end of January at the earliest.

Additional information relating to the Company is available on SEDAR at www.sedar.com.

About Iona Energy:

Iona is an oil and gas company with assets 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. 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 assumptions 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. 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.

Iona Energy Inc.
Tom Reynolds
CEO
[phone]

Iona Energy Inc.
Robert Gair
CFO
[phone]
[e-mail]

Camarco
Billy Clegg / Georgia Mann
[phone]
Camarco is a financial public relations group
assisting the Company with this press release.