Iona Energy to Acquire West Wick From Centrica Venture

- February 3rd, 2012

Iona Energy Inc. (TSXV:INA) entered into a binding agreement to acquire 58.73 % interest in Block 13/21a containing the West Wick oil field from Centrica Venture Production Company.

Iona Energy Inc. (TSXV:INA) entered into a binding agreement to acquire 58.73 % interest in Block 13/21a containing the West Wick oil field from Centrica Venture Production Company.

As quoted in the press release:

Under the terms of the Sale and Purchase Agreement, Iona paid to Centrica a holding deposit of USD 3.15 million, and on completion will pay to VPC a sum of USD 5 million.

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

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