i3 Energy PLC i3 Provides Liberator Update (0882L)

TIDMI3E

RNS Number : 0882L

i3 Energy PLC

20 December 2018

20 December 2018

i3 Energy plc

("i3" or the "Company")

i3 Energy Provides Liberator Update

i3 Energy plc, an independent oil and gas company with assets and operations in the UK, is pleased to announce that it continues to progress the necessary documentation with the UK's Oil & Gas Authority ("OGA") to achieve Field Development Plan ("FDP") approval in early 2019 for the Company's 100% owned and operated Liberator development.

i3 expects to enter the final authorisation phase of the OGA's FDP planning and consent process in Q1 2019 and continues to position itself for mid-2019 development execution with Liberator Phase I first oil anticipated in mid-2020.

John Woods, i3's COO, commented

"We are pleased by the progress being made towards Liberator Phase I field development approval and are appreciative of the ongoing support and guidance of the OGA."

ENDS

CONTACT DETAILS:

 
   i3 Energy plc 
   Majid Shafiq (CEO) / Graham Heath       c/o Camarco 
    (CFO)                                   Tel: [phone] 
 
     WH Ireland Limited (Nomad and Joint 
     Broker) 
   James Joyce, James Sinclair-Ford        Tel: [phone] 
   GMP FirstEnergy (Joint Broker) 
   Jonathan Wright, David van Erp          Tel: [phone] 
   Canaccord Genuity Limited (Joint        Tel: [phone] 
    Broker) 
    Henry Fitzgerald- O'Connor, James 
    Asensio 
   Camarco 
    Georgia Edmonds, Jane Glover, James      Tel: [phone] 
    Crothers 
 
 
  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, containing 
   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, both of which i3 hold a 100% working interest in. 
 
   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. 
 
   The information contained within this announcement is deemed by the Company to constitute 
   inside information under the Market Abuse Regulation (EU) No. 596/2014. 
 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

END

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December 20, 2018 02:00 ET (07:00 GMT)