Site Survey Operations for Liberator

30 August 2018

i3 Energy plc

("i3" or the "Company")

Site Survey Operations for the Liberator Development and Liberator West Appraisal

i3 Energy plc, an independent oil and gas company with assets and operations in the UK, is pleased to announce that it has contracted Gardline Limited to conduct a site survey at its Liberator field.

The survey will cover the two production well locations to be drilled during the Phase I development of the Liberator oil field, a survey of the planned export pipeline route, and the appraisal well location for the recently awarded Block 13/23c ("Liberator West").

The work is expected to commence in September, enabling the Company to complete its Environmental Statement and providing the necessary engineering and environmental data for inclusion in the Liberator Field Development Plan ("FDP") for which the Company is seeking approval in Q1 2019.

In preparation of the updated FDP, expected to be submitted to the UK's Oil & Gas Authority in Q4 2018, i3 continues to advance critical studies and engineering work. Additionally, and as previously announced on 27th July 2018, the Company continues to progress the legally binding documentation regarding its proposed Liberator joint venture, with the Joint Venture project team continuing its planning for the 2019 Liberator Development and appraisal of Liberator West.

John Woods, Chief Development Officer, commented

"While Joint Venture discussions are ongoing, i3 remains focused on completing key operational targets to ensure readiness for further stages of the Liberator project. Submission of our updated FDP in Q4 2018 is key and will allow i3 and our potential JV partner to ensure smooth and timely progress as we work towards achieving first oil from Liberator."

ENDS

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