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Semi-submersible Rig Contracted to Drill North Sea Well

Maritime Activity Reports, Inc.

March 6, 2012

Ocean-type rig: Wiki CCL 'Tm'

Ocean-type rig: Wiki CCL 'Tm'

Diamond Drilling contracted by Iona Energy to deploy 'Ocean Nomad' for new well

Iona Energy announce that it has entered into an agreement with Diamond Offshore Drilling (UK) Limited for the provision of its semi-submersible drilling rig,  Ocean Nomad, for drilling of one well within the Staffa Oil Field in Block 3/8d of the UK North Sea.

 Dave Sherrard, Iona's Chief Development Officer commented "We are delighted to have contracted Diamond Offshore's Ocean Nomad for the near-term drilling of Iona's first well in the re-development of the Staffa Oil Field. This is a crucial step as our team continues to secure the remaining development facilities and services that will get Iona to first oil within a year."

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