REG - i3 Energy PLC - Serenity Update

I3 EnergyAnnouncement

04/10/2023 07:15

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RNS Number : 6509O  i3 Energy PLC  04 October 2023

4 October 2023

i3 Energy plc

("i3", "i3 Energy", or the "Company")

Serenity 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 following update
regarding Serenity.

i3 Energy is aware that the licence for the Tain discovery (previously held by
RSRUK and Rockrose Energy) recently lapsed and that the Tain acreage is
therefore unlicenced and available to be re-licenced in the future.

We have been working for some time to advance a solution for the Blake / Tain
/ Serenity area but this has made little progress whist the previous Tain
licensees were unable to approve additional investment. With the acreage now
unlicenced, additional options for the area may now come available and i3 and
its partner in the Serenity field, Europa Oil and Gas are commencing
discussions with the NSTA and other interested parties to explore the
remaining potential of the wider area.

 

Enquiries:

 i3 Energy plc                                   c/o Camarco

 Majid Shafiq (CEO)                              Tel: +44 (0) 203 781 8338

 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

 , Violet Wilson, Sam Morris                     Tel: +44 (0) 203 781 8338

 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 for
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/) .

This announcement contains inside information for the purposes of Article 7 of
the UK version of Regulation (EU) No 596/2014 which is part of UK law by
virtue of the European Union (Withdrawal) Act 2018, as amended ("MAR"). Upon
the publication of this announcement via a Regulatory Information Service,
this inside information is now considered to be in the public domain.

 

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