i3 Energy plc, an independent oil and gas company with assets and operations in the UK, is pleased to announce the following update.
Serenity / Liberator Farm-out Process
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. The data room is now open and companies are actively evaluating the opportunity. i3 will update the market as discussions progress.
As announced in the RNS dated 7th February 2020, the Company 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.