Iona Energy Orlando Field Development Plan Approval

abarrelfull wrote on 30 Jun 2014 09:24
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April 16, 2013

Iona Energy Inc. ("Iona" or the "Company") (TSX VENTURE:INA) is pleased to announce today that the Department of Energy and Climate Change ("DECC") has advised the Orlando joint venture partners that it has approved the Orlando Field Development Plan ("FDP") submitted by the partners. The Orlando Field is owned by Iona (Operator 75%) and Volantis Exploration (25%). Further, DECC has approved Iona's application for Production Operator status.

The Orlando Oil field lies approximately 10 Km north east of the Ninian Central Platform and was successfully appraised with well 3/3b-11 (1989) and 3/3b-13 (2012) with sidetrack wells.

Iona's Chief Executive Officer, Neill Carson, commented: "The Orlando Field development approval is our first with Production Operator status and is an important step as we push to deliver this project as early as possible. We will continue to work with the supply chain and stakeholders in order to place the remaining key contracts."

• Iona Energy Orlando Field Development Plan Approval

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