REG - i3 Energy PLC - Licence P2358 Extension

I3 EnergyAnnouncement

01/10/2024 07:00

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RNS Number : 3450G  i3 Energy PLC  01 October 2024

1 October 2024

I3 Energy plc

 

("i3 Energy" or the "Company")

 

Licence P2358 (containing the Serenity Field) Extension

 

i3 Energy is pleased to announce that the North Sea Transition Authority
("NSTA") has extended the Second Term of the P2358 Licence ("Licence") for a
period of 18 months, so that it will end on 31(st) March 2026. The Third Term
of the Licence is reduced by the same time-period. The area of the Licence has
been reduced to encompass the Serenity field only.

 

Majid Shafiq, CEO of i3 Energy plc, commented:

"i3 is very pleased that the NSTA has extended the Second Term of the Licence,
which will allow the company more time to evaluate development options for the
Serenity field."

 

END

Enquiries:

 i3 Energy plc                                  c/o Camarco

 Majid Shafiq (CEO)                             Tel: +44 (0) 203 757 4980

 Zeus Capital Limited (Nomad and Joint Broker)

 James Joyce, Darshan Patel, Isaac Hooper       Tel: +44 (0) 203 829 5000

 Tennyson Securities (Joint Broker)

 Peter Krens                                    Tel: +44 (0) 207 186 9030

 Camarco

 Georgia Edmonds, Violet Wilson, Sam Morris     Tel: +44 (0) 203 757 4980

 

Responsibility:

The person responsible for arranging the release of this announcement on
behalf of i3 Energy is Majid Shafiq, Chief Executive Officer.

Notes to Editors:

i3 Energy plc is an oil and gas Company with a low cost, diversified, growing
production base in Canada's most prolific hydrocarbon region, the Western
Canadian Sedimentary Basin and appraisal assets in the North Sea with
significant upside.

The Company is well positioned to deliver future growth through the
optimisation of its existing asset base and the acquisition of long life, low
decline conventional production assets.

i3 is dedicated to responsible corporate practices and the environment, and
places high value on adhering to strong Environmental, Social and Governance
("ESG") practices.  i3 is proud of its performance to date as a responsible
steward of the environment, people, and capital management.  The Company is
committed to maintaining an ESG strategy, which has broader implications to
long-term value creation, as these benefits extend beyond regulatory
requirements.

i3 Energy plc is listed on the AIM market of the London Stock Exchange under
the symbol I3E and on the Toronto Stock Exchange under the symbol ITE. For
further information on i3 please visit https://i3.energy (https://i3.energy/)

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