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 that its
board of directors has approved the granting of stock options to purchase
1,350,000 common shares of the Company to seven employees (including 250,000
options to one employee performing investor relations activities) subject to
regulatory and TSX Venture Exchange approval. The options were issued with an
exercise price of $0.54 per share, vest as to one quarter (1/4) immediately and
one quarter (1/4) on each of the first, second and third anniversaries of the
date of grant and have a five year term from the date of issuance. 


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

This news release may contain certain forward-looking information and
statements, including without limitation, statements pertaining to the Company's
ability to obtain necessary approvals from the TSX Venture Exchange. All
statements included herein, other than statements of historical fact, are
forward-looking information and such information involves various risks and
uncertainties. There can be no assurance that such information will prove to be
accurate, and actual results and future events could differ materially from
those anticipated in such information. A description of assumptions used to
develop such forward-looking information and a description of risk factors that
may cause actual results to differ materially from forward-looking information
can be found in Iona's disclosure documents on the SEDAR website at
www.sedar.com. Iona does not undertake to update any forward-looking information
except in accordance with 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 (UK)
1 403 605-6726 (North America)


Iona Energy Inc.
David Ricciardi
Manager, Investor Relations
+1 403 978-4894