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22 Aug 2019 07:35
A number of non material typographical changes have been made to the 'i3 Commences Liberator Drilling Operations' announcement released on 22/08/2019 at 07:00 underĀ RNS No 8448J.Ā
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The changes are identified with an asterisk (*).
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The full amended text is shown below.
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22 August 2019
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i3 Energy plc
("i3" or the "Company")
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i3 Commences Liberator Drilling Operations
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i3 Energy plc, an independent oil and gas company with assets and operations in the UK, is pleased to announce that the Borgland Dolphin semi-submersible drilling rig has arrived on location at the Liberator field and that the LPt-02 pilot well has now been spud. The Company will provide LPt-02 drilling results to the market when the well has reached total depth and acquired data has been evaluated. The results of the LPt-02 well will allow the location and trajectory of the future LP-02 production well to be optimized and will be plugged and abandoned as planned before the rig moves to the LA-03 location, the next well in i3's 2019 drilling program.*
Majid Shafiq, CEO of i3 Energy commented:
"We are excited to now be on location and drilling the first of three high impact wells into our 100% owned Liberator and Serenity structures and look forward to updating the market as each well objective is achieved."
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ENDS
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CONTACT DETAILS:
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Notes to Editors: i3 is an oil and gas development company initially focused on the North Sea. The Company's core asset is the Greater Liberator Area, located in Blocks 13/23d and 13/23c, to which i3's independent reserves auditor attributes 11 MMBO of 2P Reserves, 22 MMBO of 2C Contingent Resources and 47 MMBO of mid-case Prospective Resources. The Greater Liberator Area consists of the Liberator oil field discovered by well 13/23d-8 and the Liberator West extension. The Greater Liberator Area, along with the Company's Serenity Prospect located in the northern half of Block 13/23c and for which it carries a STOIIP of 197 MMbbls, are owned and operated on a 100% working interest basis. Ā The Company's strategy is to acquire high quality, low risk producing and development assets, to broaden its portfolio and grow its reserves and production. Ā The information contained within this announcement is deemed by the Company to constitute inside information under the Market Abuse Regulation (EU) No. 596/2014. Ā |
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