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LONDON (Alliance News) - i3 Energy PLC said Monday that it continues to make progress on legally binding loan documentation for a junior financing facility, which upon completion and draw down will be used to partially finance the company's 2019 summer drilling programme
The oil and gas company concurrently is working towards agreement of a senior loan which would, upon a successful 2019 drilling campaign, provide adequate funding for expected 2020 delivery of first oil from Liberator field located in North Sea.
Shares in i3 Energy were down 3.9% at 39.17 pence each.