viewi3 Energy PLC

i3 Energy making “good progress” with North Sea farm-out process

Potential partners are are actively evaluating the opportunity, the North Sea junior said in a statement

i3 Energy PLC - i3 Energy making “good progress” with North Sea farm-out process

i3 Energy Plc (LON:i3E) shares pushed higher on Thursday after the explorer issued a corporate update confirming “good progress” with its North Sea farm-out efforts and also its intention to establish a secondary stock market listing.

“The company is making 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,” i3E said in the statement.

READ:i3 Energy confirms 2020 drill plans

“The data room is now open and companies are actively evaluating the opportunity. i3 will update the market as discussions progress,” it added.

The group also said it is "planning to list its shares on a secondary exchange".

“This is being done for administrative reasons related to the company's Loan Notes issued 31st May 2019 and i3 wishes to make clear that this is not being done in preparation for an imminent equity placing as is indicated by market rumour,” it added.

In afternoon trade, shares in i3 Energy were up 13.6% at 8.75p.

 -- Adds share price --

Quick facts: i3 Energy PLC

Price: 6.1 GBX

Market: AIM
Market Cap: £6.57 m


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of i3 Energy PLC named herein, including the promotion by the Company of i3 Energy PLC in any Content on the Site, the Company receives from said...



i3 Energy team discuss acquisition of Toscana Energy and new growth business

i3 Energy Plc's (LON:i3E) Majid Shafiq and Graham Heath speak to Proactive London's Andrew Scott following the news this morning of a new strategic acquisition - picking up producing assets in Canada. i3E's secured terms to acquire Toronto listed Toscana Energy Income Corporation which owns...

on 30/3/20

2 min read