Energy SpA — AGM Information 2014

May 6, 2014

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

IONA ENERGY ANNOUNCES THE RESULTS FROM THE MAY 6th, 2014 BONDHOLDER MEETING

FOR IMMEDIATE RELEASE

CALGARY, ALBERTA, May 6th, 2014 - Iona Energy Inc. ("Iona" or the "Company") (TSX V: INA) is pleased to announce that 94.23% of the bondholders in attendance of today's bondholders meeting pertaining to the 9.50 per cent Iona Energy Company (UK) plc Senior Secured Callable Bond Issue 2013/2018 (ISIN NO 001 0689763) have voted in favour, and a motion has passed to amend certain terms of the bond agreement. For further information relating to the amendments, please see the summons to the bondholders' meetings here: http://media3.marketwire.com/docs/940065p.pdf.

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

For further information please contact:

Neill A. Carson, Chief Executive Officer

Telephone: +44 1224 228400

Graham A. Heath, Interim Chief Financial Officer

Telephone: +1 403 605 6726

David Ricciardi, Manager, Investor Relations

Telephone: +1 403 978 4894

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.

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.