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I3 Energy Ord Shs T.ITE

Alternate Symbol(s):  ITEEF

Energy Oil & Gas E&P
i3 Energy plc is an independent oil and gas company with assets and operations in the United Kingdom and Canada. The Company's principal activities consist of oil and gas production in the Western Canadian Sedimentary Basin (WCSB) and appraisal of oil and gas assets on the United Kingdom Continental Shelf (UKCS). The Company's wholly owned subsidiaries i3 Energy North Sea Limited and i3 Energy Canada Limited are independent oil and gas companies with appraisal assets in the United Kingdom and producing assets in Canada, respectively. It holds the P.2358 license in the UKCS which contains the Serenity field discovery. This licence also contains the Liberator field discovery and the Minos High prospect. The Company holds various mineral licenses across its main operating areas in the WCSB, being Wapiti, Simonette, Clearwater, and Central Alberta. The Company's Canadian production asset base consists of over 850 net conventional oil, natural gas and natural gas liquids production wells.


TSX:ITE - Post by User

I3 Energy Ord Shs > WH Ireland updated target price - raised to 60.6 pence
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Post by Proseleneson Jun 14, 2022 4:32am
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Post# 34754191

WH Ireland updated target price - raised to 60.6 pence

WH Ireland updated target price - raised to 60.6 penceWH Ireland upgrades its Target price to 60.6p



Significant increase to fair value estimate and first 2023 financial projections
We are updating our financial forecasts, providing our first financial forecasts for 2023, and increasing our fair value estimate for i3 Energy to 60.6p, up from 49.8p, to reflect both stronger production and higher commodity prices.

Production outlook: We are increasing our production estimate for 2022 to 21,077 boe/d from 20,343 boe/d on the company’s increased (now $US 97M) Canadian capex budget. We are also providing our first 2023 production estimate, 23,762 boe/d, which assumes that the company duplicates our assumed 2022 drilling programme next year.


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