Iona Energy Inc. announced earning results for the fourth quarter and year ended December 31, 2013. For the quarter, the company reported crude oil and natural gas revenues of $33.8 million. Loss before tax was $39.0 million compared with $4.4 million a year ago. Income after tax was $31.6 million or $0.09 per basic and diluted share compared with loss of $4.4 million or $0.01 per basic and diluted share a year ago. Funds flow was $28.2 million or $0.08 per basic and diluted share compared with negative funds flow of $4.6 million or $0.01 per basic and diluted share a year ago. Adjusted EBITDA was $27.94 million or $0.08 per basic and diluted share compared with negative adjusted EBITDA of $4.6 million or $0.01 per basic and diluted share a year ago.

For the year, the company reported crude oil and natural gas revenues of $65.5 million. Loss before tax was $65.5 million compared with $10.6 million a year ago. Income after tax was $29.5 million or $0.08 per basic and diluted share compared with loss of $10.6 million or $0.04 per basic and diluted share a year ago. Funds flow was $31.3 million or $0.09 per basic and diluted share compared with negative funds flow of $4.6 million or $0.02 per basic and diluted share a year ago. Adjusted EBITDA was $46.96 million or $0.13 per basic and diluted share compared with negative adjusted EBITDA of $10.7 million or $0.04 per basic and diluted share a year ago.

For the quarter, the company reported total crude oil and natural gas production of 3,085 boepd.

For the year, the company reported total crude oil and natural gas production of 2,430 boepd.