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Share Price: 12.18

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Change: 0.02 (0.16%)

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Open: 12.24

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i3 Energy Reports Good Progress On Farm-Out For UK North Sea Assets

Thu, 13th Feb 2020 18:47

(Alliance News) - i3 Energy PLC said Thursday it has made good progress in its farm-out process to fund a 2020 appraisal drilling program on its assets in blocks 13/23c in the UK North Sea.

The oil & gas firm has opened the data room, and companies are now evaluating the opportunity.

i3 Energy also announced that it is planning to list its shares on a secondary exchange, stressing that it is being done for administrative reasons related to loan notes issued in May, and not in preparation for an equity placing.

Shares in i3 Energy closed 18% higher at 9.05 pence on Thursday in London.

By Dayo Laniyan; dayolaniyan@alliancenews.com

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