Iona Energy administration achieved, Decipher transaction complete

By Caroline Salls

Pittsburgh, April 20 – Iona Energy Co. (UK) Ltd.’s administrators said the purpose of the company’s administration “has been sufficiently achieved,” according to a news release.

In addition, the administrators said the sale to Decipher Energy Ltd. of the entire issued share capital of Iona Energy was completed, and Decipher is now the company’s sole shareholder.

In addition, amendments approved by Iona bondholders took effect with the completion of the Decipher transaction.

Iona Energy is a Calgary, Alta.-based oil and gas company with assets in the United Kingdom’s North Sea.

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