i3 Energy Plc. T.ITE

Under valued on results

[Genises]

 

Highlights

-- Successful Execution of 2022 Capital Programme Provided Year-Over-Year Reserve Additions Across All Reserve Categories

o Total Company Interest proved plus probable developed producing reserves ("2PDP") increased 9% to 65.7 million boe, total proved ("1P") reserves increased 10% to 93.5 million boe and total proved plus probable ("2P") reserves increased 18% to 181.5 million boe, compared to the prior year.

-- Strong Organic Reserves Replacement Ratio, Long Reserve Life Assets and Low Decline Profile to Support the Company's Total Return Model

o The Company's organic Working Interest reserves replacement ratio in 2022 was 176% on a 2PDP reserve basis, 214% on a 1P reserves basis and 479% on a 2P basis.

o 2PDP, 1P and 2P reserve life indices of 8.8 years, 12.2 years and 22.5 years, respectively, combined with our low base corporate decline rate of approximately 17% and our extensive inventory of highly economic development drilling locations, underpin i3's ability to sustainably grow production per share from our existing asset base and generate significant distributable cash flow for our shareholders.

 

Highlights

-- Successful Execution of 2022 Capital Programme Provided Year-Over-Year Reserve Additions Across All Reserve Categories

o Total Company Interest proved plus probable developed producing reserves ("2PDP") increased 9% to 65.7 million boe, total proved ("1P") reserves increased 10% to 93.5 million boe and total proved plus probable ("2P") reserves increased 18% to 181.5 million boe, compared to the prior year.

-- Strong Organic Reserves Replacement Ratio, Long Reserve Life Assets and Low Decline Profile to Support the Company's Total Return Model

o The Company's organic Working Interest reserves replacement ratio in 2022 was 176% on a 2PDP reserve basis, 214% on a 1P reserves basis and 479% on a 2P basis.

o 2PDP, 1P and 2P reserve life indices of 8.8 years, 12.2 years and 22.5 years, respectively, combined with our low base corporate decline rate of approximately 17% and our extensive inventory of highly economic development drilling locations, underpin i3's ability to sustainably grow production per share from our existing asset base and generate significant distributable cash flow for our shareholders.