Iona Energy Inc. reported consolidated earnings and production results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported crude oil and natural gas revenues of USD 27,100,000 against USD 11,843,000 a year ago. Loss before tax was USD 24,065,000 against profit of USD 9,415,000 a year ago. Loss after tax was USD 28,027,000 or USD 0.08 per basic and diluted share against profit of USD 9,117,000 or USD 0.02 per basic and diluted share a year ago. Funds Flow was USD 3,345,000 or USD 0.01 per basic and diluted share against USD 3,911,000 or USD 0.01 per basic and diluted share a year ago. Adjusted EBITDA was USD 9,647,000 or USD 0.03 per basic and diluted share against USD 3,001,000 or USD 0.01 per basic and diluted share a year ago.

For the six months, the company reported crude oil and natural gas revenues of USD 62,748,000 against USD 13,701,000 a year ago. Loss before tax was USD 23,348,000 against USD 12,748,000 a year ago. Loss after tax was USD 28,365,000 or USD 0.08 per basic and diluted share against USD 2,828,000 or USD 0.01 per basic and diluted share a year ago. Funds Flow was USD 30,433,000 or USD 0.08 per basic and diluted share against USD 2,160,000 or USD 0.01 per basic and diluted share a year ago. Adjusted EBITDA was USD 36,790,000 or USD 0.10 per basic and diluted share against USD 6,282,000 or USD 0.02 per basic and diluted share a year ago.

For the quarter, the company produced total crude oil and natural gas of 2,759 boepd against 1,834 boepd a year ago.

For the six months, the company produced total crude oil and natural gas of 3,432 boepd against 1,666 boepd a year ago.