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RNS Number : 9340Z i3 Energy PLC 20 September 2022
20 September 2022
i3 Energy plc
("i3" or the "Company")
Serenity Appraisal Well Update
i3 Energy plc (AIM: I3E) (TSX: ITE), an independent oil and gas company with
assets and operations in the UK and Canada, announces the commencement of
operations for the drilling of the Serenity appraisal well on UK Licence
P.2358, Block 13/23c. i3 owns a 75% working interest in the field. The Stena
Don semi-submersible drilling unit is now on contract to i3 and is on location
preparing for the spudding of the well, which is expected to occur later this
week. The drilling programme is expected to last approximately 30 days.
Majid Shafiq, CEO of i3 Energy plc, commented:
"i3 is very pleased to have commenced the appraisal of the Serenity discovery.
The well is designed to prove the extension of the reservoir to the west of
the discovery well 13/23c-10 and so prove up additional hydrocarbon volumes in
place. This will enable optimisation of any necessary further appraisal and a
development plan for the field. Further updates will be provided in due
course."
END
Enquiries:
i3 Energy plc c/o Camarco
Majid Shafiq (CEO) / Graham Heath (CFO) Tel: +44 (0) 203 781 8331
WH Ireland Limited (Nomad and Joint Broker)
James Joyce, Darshan Patel Tel: +44 (0) 207 220 1666
Tennyson Securities (Joint Broker)
Peter Krens Tel: +44 (0) 207 186 9030
Stifel Nicolaus Europe Limited (Joint Broker)
Ashton Clanfield, Callum Stewart Tel: +44 (0) 20 7710 7600
Camarco
Georgia Edmonds, James Crothers, Violet Wilson Tel: +44 (0) 203 781 8331
Notes to Editors:
i3 Energy 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 100% owned 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 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 Energy please visit https://i3.energy/
(https://i3.energy/) .
The Company deems this announcement to constitute inside information under the
Market Abuse Regulation (EU) No. 596/2014.
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