i3 Energy plc, an independent oil and gas company with assets and operations in the UK, announces that further to its announcement of 8th November 2019 ('Liberator A2 and Funding Update'), it is expecting to complete the subscriptions for 14,285,715 new ordinary shares in the Company at 35 pence per share from funds managed by Bybrook Capital LLP shortly and expects the admission of the new shares to be on or around 9th December 2019.
i3 Energy plc
Majid Shafiq (CEO) / Graham Heath (CFO)
Tel: +44 (0) 203 781 8331
WH Ireland Limited (Nomad and Joint Broker)
James Joyce, James Sinclair-Ford
Tel: +44 (0) 207 220 1666
GMP FirstEnergy (Joint Broker)
Tel: +44 (0) 207 448 0200
Canaccord Genuity Limited (Joint Broker)
Henry Fitzgerald- O'Connor, James Asensio
Tel: +44 (0) 207 523 8000
Jennifer Renwick, James Crothers
Tel: +44 (0) 203 781 8331
Notes to Editors:
i3 is an oil and gas development company initially focused on the North Sea. The Company's core asset is the Greater Liberator Area, located in Blocks 13/23d and 13/23c, to which i3's independent reserves auditor attributes 11 MMBO of 2P Reserves, 22 MMBO of 2C Contingent Resources and 47 MMBO of mid-case Prospective Resources. The Greater Liberator Area consists of the Liberator oil field discovered by well 13/23d-8 and the Liberator West extension. The Greater Liberator Area, along with the Company's Serenity Prospect located in the northern half of Block 13/23c and for which it carries a STOIIP of 197 MMbbls, are owned and operated on a 100% working interest basis.
The Company's strategy is to acquire high quality, low risk producing and development assets, to broaden its portfolio and grow its reserves and production.
The information contained within this announcement is deemed by the Company to constitute inside information under the Market Abuse Regulation (EU) No. 596/2014.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
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I3 Energy Plc's (LON:i3E) Majid Shafiq and Graham Heath speak to Proactive London's Andrew Scott after confirming the completion of its three-well 2019 drill programme.
Looking ahead, it is now planning a summertime appraisal of the Serenity discovery and the Liberator West area.