Iona Energy Finishes Independent Reserves Report of Kells Development Project

Iona Energy Inc. (TSXV:INA) reported that Gaffney Cline & Associates has finished an independent reserves report of Kells development project.

As quoted in the press release:

GCA has determined, the Pre-Tax Net Present Value, discounted at 10% (“NPV10″), of Kells Proved plus Probable (“2P”) reserves have increased to USD$358.4 million, up from USD$164.9 million as previously reported, an increase of more than 117%.

Click here to read the Iona Energy Inc. (TSXV:INA) press release.