Effective immediately, Mr. Richard Ames has been appointed as Iona Energy Inc.'s Executive Vice President. Mr. Ames is currently a Director of Iona. Mr. Alan Curran will remain as Chief Operating Officer until his departure in June 2014 and Mr. Graham Heath continues his roles as Interim Chief Financial Officer and VP Corporate Development until a permanent replacement is found for the role of CFO.

Mr. Ames held several Vice President positions in TNK-BP, Sidanco, and Amoco in Russia and Kazakhstan, where he was responsible for government liaison, the implementation of business strategies and the management of exploration and new venture projects. He has recently held Advisory Board of Director positions in Accenture Russia, Kiawah Conservancy, and DataSpace.