logo-loader
viewi3 Energy PLC

Liberator Well 13/23c-9 Preliminary Result

/**/ p{margin-right:0cm;margin-left:0cm;font-size:12.0pt;font-family:"Times New Roman","serif";}ol{margin-bottom:0cm;}ul{margin-bottom:0cm;}link{ color: #0563C1 }visited{ color: purple } .cc{size:595.3pt 841.9pt;margin:72.0pt 72.0pt 72.0pt 72.0pt;}div.cc{}p.dp{margin:0cm;margin-bottom:.0001pt;font-size:11.0pt;font-family:"Calibri","sans-serif";font-weight: bold; line-height: 120%}span.dn{font-size:10.0pt; line-height:120%;font-family:"Arial","sans-serif";color:black}p.dq{margin:0cm;margin-bottom:.0001pt;font-size:11.0pt;font-family:"Calibri","sans-serif";font-weight: bold; line-height: 120%; text-align: center}span.dl{font-size:10.0pt;line-height:120%;font-family:"Arial","sans-serif"; color:black}p.dr{margin:0cm;margin-bottom:.0001pt;font-size:11.0pt;font-family:"Calibri","sans-serif";font-weight: bold; text-align: center}span.dj{font-size:10.0pt;font-family:"Arial","sans-serif";color:black}p.ds{margin:0cm;margin-bottom:.0001pt;font-size:11.0pt;font-family:"Calibri","sans-serif";text-align:justify;line-height:120%}p.dt{margin:0cm;margin-bottom:.0001pt;font-size:11.0pt;font-family:"Calibri","sans-serif";text-align:justify} span.du{font-size:10.0pt;font-family:"Arial","sans-serif";color:black}p.dv{margin:0cm;margin-bottom:.0001pt;font-size:11.0pt;font-family:"Calibri","sans-serif";font-div: italic; line-height: 120%; margin-left: 18.0pt; text-indent: -18.0pt}table.dw{width:456.65pt;margin-left:-5.35pt;border-collapse:collapse}td.dc{padding:0cm 0cm 0cm 0cm}table.dx{width:450.95pt;border-collapse:collapse}p.dy{margin:0cm;margin-bottom:.0001pt;font-size:11.0pt;font-family:"Calibri","sans-serif";text-align:justify;line-height:115%}span.de{font-size:10.0pt;line-height:115%;font-family:"Arial","sans-serif"; color:black}td.da{width:248.7pt;padding:0cm 5.4pt 0cm 5.4pt}p.dz{margin:0cm;margin-bottom:.0001pt;font-size:11.0pt;font-family:"Calibri","sans-serif";font-weight: bold; line-height: 115%; text-align: justify}td.cy{width:167.15pt;padding:0cm 5.4pt 0cm 5.4pt} p.ea{margin:0cm;margin-bottom:.0001pt;font-size:11.0pt;font-family:"Calibri","sans-serif";text-align:justify;line-height:115%;background: white}span.cx{font-size:10.0pt; line-height:115%;font-family:"Arial","sans-serif"}tr.ct{height:35.85pt}td.cw{padding:0cm 0cm 0cm 0cm;height:35.85pt}td.cv{width:248.7pt;padding:0cm 5.4pt 0cm 5.4pt; height:35.85pt}td.cu{width:167.15pt;padding:0cm 5.4pt 0cm 5.4pt; height:35.85pt}tr.cp{height:45.0pt}td.cs{padding:0cm 0cm 0cm 0cm;height:45.0pt}td.cr{width:248.7pt;padding:0cm 5.4pt 0cm 5.4pt; height:45.0pt}td.cq{width:167.15pt;padding:0cm 5.4pt 0cm 5.4pt; height:45.0pt} p.eb{margin:0cm;margin-bottom:.0001pt;font-size:11.0pt;font-family:"Calibri","sans-serif";line-height:120%}td.cm{width:.3pt;padding:0cm 5.4pt 0cm 5.4pt}p.ec{margin:0cm;margin-bottom:.0001pt;font-size:11.0pt;font-family:"Calibri","sans-serif";line-height:120%;background:white}table.ed{width:450.95pt;margin-left:-10.75pt;border-collapse:collapse}tr.cf{height:46.95pt}td.cj{width:2.9pt;padding:0cm 5.4pt 0cm 5.4pt; height:46.95pt}td.cg{width:437.25pt;padding:0cm 0cm 0cm 0cm;height:46.95pt}span.ci{font-size:10.0pt;line-height:120%; font-family:"Arial","sans-serif";color:black}span.ch{font-size:10.0pt; line-height:120%;font-family:"Arial","sans-serif";color:black;border:none windowtext 1.0pt; padding:0cm}p.ee{margin:0cm;margin-bottom:.0001pt;font-size:11.0pt;font-family:"Calibri","sans-serif";font-weight: bold; line-height: 120%; margin-bottom: 3.0pt; text-align: justify} /**/
RNS Number : 8100L
i3 Energy PLC
10 September 2019
 

10 September 2019

 

i3 Energy plc

("i3" or the "Company")

 

Liberator Well 13/23c-9 (LPt-02) Preliminary Result

 

i3 Energy plc, an independent oil and gas company with assets and operations in the UK, announces that the 13/23c-9 pilot well drilled by the Borgland Dolphin on i3 Energy's 100% owned Liberator Field has reached total depth at 5818 ft True Vertical Depth Sub-sea (TVDSS) in the Valhall formation.

 

The objectives of this pilot well are to enable a future development well to be positioned at an optimal location in the upper Captain sands channel in the south-eastern area of the Liberator field. Preliminary petrophysical information obtained from the Measurement While Drilling (MWD) tools indicate that the targeted upper Captain sand has not been penetrated and is pinched out at the 13/23c-9 location. The lower Captain sand is present in the well and is below the estimated oil water contact as expected. On initial tie to the seismic data, the well appears to be located proximal to the main upper Captain channel fairway and further well data is required in order to interpret and locate the key reservoir upper Captain channel edge. As such, preparations are being made to obtain a vertical seismic profile (VSP) in the well and to also run a shear wave sonic log, after which 13/23c-9 will be plugged and abandoned as planned. These data will be used to recalibrate and update the existing seismic model such that options and plans for further operations at this location to meet the objective of locating a future development well in the south-east area of the field can be made.

 

The Company will provide further updates once it has analysed the data currently being acquired.

 

ENDS

 

 

CONTACT DETAILS:

 

i3 Energy plc

 

 

Majid Shafiq (CEO) / Graham Heath (CFO)

c/o Camarco

Tel: +44 (0) 203 781 8331

 

 

WH Ireland Limited (Nomad and Joint Broker)

 

 

James Joyce, James Sinclair-Ford

Tel: +44 (0) 207 220 1666

 

GMP FirstEnergy (Joint Broker)

 

 

Jonathan Wright

Tel: +44 (0) 207 448 0200

 

 

Canaccord Genuity Limited (Joint Broker)

Henry Fitzgerald- O'Connor, James Asensio

 

Tel: +44 (0) 207 523 8000

 

 

Camarco

Jennifer Renwick, James Crothers

 

Tel: +44 (0) 203 781 8331

 

 

 

 

 

 

 

 

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.

 

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 [email protected] or visit www.rns.com.
 
END
 
 
DRLVBLBFKKFEBBD

Quick facts: i3 Energy PLC

Price: 36.25

Market: AIM
Market Cap: £33.87 m
Follow

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

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...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

i3 Energy PLC - Proactive Oil Capital conference

I3 Energy PLC's (LON:I3E) CEO Majid Shafiq speaks at the recent Proactive Oil Capital conference. They've recently reported a discovery from its Serenity well in the North Sea. Describing it as transformational, I3 says the well results were consistent with its pre-drill estimates of 197...

2 weeks, 4 days ago