LONDON (Alliance News) - i3 Energy PLC on Thursday said it is still assessing its options regarding financing to develop the Liberator field in the North Sea.
i3 noted its recent share price movement and "speculation" regarding an equity placing, and said it is still focused on finding the best way to fund Liberator.
Shares were up 0.7% on Thursday at 42.30 pence each, though they hit 46.20p in early trade, and were at 50.80p a week ago.
The company most recently, in late February, signed a term sheet for a GBP24 million loan note facility with a European investment manager.
A condition of this was to commit GBP16 million of capital, coming from either an equity issue or through using proceeds from its farm-out process.
"In order to assess each viable funding configuration, the company has for some time been and continues to be in ongoing discussions that span its entire asset base and capital structure, including the potential farm-out of its licences, the placement of junior debt, senior debt and equity. Further announcements will be made as appropriate," said i3.
I3 Energy (I3E)