Company
LON:I3E
i3 Energy is an oil and gas company with a low cost, diversified, growing production base in Canada's most prolific hydrocarbon region, the Western Canadian Sedimentary Basin and appraisal assets in the North Sea with significant upside. The company is well positioned to deliver future growth through the optimisation of its existing 100% owned asset base and the acquisition of long life, low decline conventional production assets.
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"We have come to the end of our 2019 drilling programme, which has delivered a major success in the Serenity discovery, a structure which has the potential to be a very large oil field,” said Majid Shafiq.
"We are pleased to have encountered a thick Captain sand at this location including oil indications in the upper Captain sand above the oil water contact"
A look back at some of the top news from London's small-cap energy companies
The group said results from drilling at the Liberator A2 well will be used to optimise the location and trajectory of the planned LP-02 production well
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A look back at some of the top news from London's small-cap energy companies
Archive
A glance at some of the day's highlights from the Proactive Investors newswire
"The discovery of the Serenity oilfield, a potentially very large oil resource, is a transformational event for i3 Energy"
"We are excited to be drilling this potentially high-impact well at Serenity which could add materially to i3's reserves and resources."
It will soon drill the Serenity exploration well, ahead of further appraisal at Liberator.
"We look forward to updating shareholders on further progress in due course once the permitting for the Serenity well has been completed," said Majid Shafiq, the CEO of i3.
The firm will obtain a vertical seismic profile in the well to help with future plans for a development well elsewhere in the field
The company said it will update the market once the LPt-02 pilot well has reached the required depth and data it has acquired has been evaluated
A glance at some of the day's highlights from the Proactive Investors newswire
The Borgland Dolphin drilling rig has completed acceptance testing and is due to begin transit to the Liberator field, in the outer Foray Mirth, shortly
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It was another busy week in the junior oil and gas sector.
Investments and investor services
A look at the day's major movers, including Fastjet, Johnson Service, Solid State, Fusion Antibodies, Funding Circle, Dialight and Associated British Engineering
Baker Hughes GE, an industry giant, has agreed to wait for payment until i3 has received its first sales revenues from Liberator
Archive
A glance at some of the day's highlights from the Proactive Investors newswire
A flurry of asset acquisitions, investments and new field start-ups are all signs that the North Sea "continues to be revitalised”.
Archive
A glance at some of the day's highlights from the Proactive Investors newswire
