i3 Energy PLC Announces Licence P2358 Extension

Licence P2358 (containing the Serenity Field) Extension

EASTLEIGH, UK / ACCESSWIRE / October 1, 2024 / i3 Energy ("i3 Energy" or the "Company") is pleased to announce that the North Sea Transition Authority ("NSTA") has extended the Second Term of the P2358 Licence ("Licence") for a period of 18 months, so that it will end on 31st March 2026. The Third Term of the Licence is reduced by the same time-period. The area of the Licence has been reduced to encompass the Serenity field only.

Majid Shafiq, CEO of i3 Energy plc, commented:

"i3 is very pleased that the NSTA has extended the Second Term of the Licence, which will allow the company more time to evaluate development options for the Serenity field."

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Enquiries:

Responsibility:

The person responsible for arranging the release of this announcement on behalf of i3 Energy is Majid Shafiq, Chief Executive Officer.

Notes to Editors:

i3 Energy plc 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 asset base and the acquisition of long life, low decline conventional production assets.

i3 is dedicated to responsible corporate practices and the environment, and places high value on adhering to strong Environmental, Social and Governance ("ESG") practices. i3 is proud of its performance to date as a responsible steward of the environment, people, and capital management. The Company is committed to maintaining an ESG strategy, which has broader implications to long-term value creation, as these benefits extend beyond regulatory requirements.

i3 Energy plc is listed on the AIM market of the London Stock Exchange under the symbol I3E and on the Toronto Stock Exchange under the symbol ITE. For further information on i3 please visit https://i3.energy

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SOURCE: i3 Energy PLC