Iona Energy Inc.
TSX VENTURE : INA

August 08, 2011 09:01 ET

Iona Energy Announces New Manager of Commercial Infrastructure

ABERDEEN, SCOTLAND and CALGARY, ALBERTA--(Marketwire - Aug. 8, 2011) -

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

Iona Energy Inc. (TSX VENTURE:INA) is pleased to announce that Mr. Peter Campbell has joined the company as Manager, Commercial Infrastructure.

Peter has more than 30 years experience in the E&P business. He gained a bachelors degree in engineering in 1979 and later an MBA from the University of Western Australia. After starting his career on the North Rankin A gas project he spent several years in Singapore, Kuala Lumpur and Jakarta where he worked on offshore development projects for Shell, Exxon and Arco. Returning to Australia in 1984 he managed field development planning and execution for a number of fields in the Carnarvon Basin, offshore Western Australia, most notably a long-term production test for the Wandoo oilfield for Ampolex and the development of the East Spar gas field.

Peter moved to the UK in 1997 as Decommissioning Manager for Oryx and led the decommissioning of the Hutton field, which was completed within budget and ahead of schedule, and sale of the Hutton TLP. Following Kerr-McGee's acquisition of Oryx, he was asset manager for several North Sea fields, led field development planning (including the Dumbarton field) and became Business Development Manager responsible for A&D.

In 2006, following Maersk Oil's acquisition of Kerr-McGee's UK business, Peter moved to Copenhagen as Director of Strategy & M&A and later became Head of New Business and M&A, responsible for new country entries, business development and M&A worldwide.

Neill Carson, Iona Energy's Chief Executive Officer commented:

"Iona is very pleased to have engaged the services of Mr. Campbell who has all of the requisites to assist the company in developing its projects at Orlando, Trent & Tyne, and further acquisitions. Peter has full-cycle experience in managing oil and gas assets from exploration through to decommissioning, a track record of successful implementation involving innovative field development solutions, and extensive commercial, technical and project management capabilities. Peter is a welcome addition to our Aberdeen office."

About Iona Energy:

Iona Energy Inc. and its wholly owned subsidiary Iona Energy Company (UK) Limited ("Iona" or the "Company"), is an oil and gas exploration, development and production 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. 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, whether used in connection with the estimated drilling times of the Orlando well, estimated production levels and future activity or otherwise, are intended to identify forward-looking statements. Such statements are not promises or guarantees, 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.

The TSX Venture Exchange Inc. has in no way passed upon the merits of and has neither approved nor disapproved the contents of this press release.

Contact Information

  • Iona Energy Inc.
    Neill A. Carson
    Chief Executive Officer
    +011 (44) 7919 057989

    Iona Energy Inc.
    Brad G. Gunn
    Chief Financial Officer
    (403) 775-7442