03:00 Mon 29 Apr 2019
i3 Energy PLC - Funding Update
("i3" or the "Company")
Funding Update
The Company and the Junior Facility lenders continue to progress legally binding loan documentation. Subject to completion and upon drawdown, funds made available from the Junior Facility will be used to partially finance i3's 2019 drilling programme which remains on track to commence mid-summer.
Concurrently, i3 and its senior lenders are working towards agreement of a senior loan which would, upon a successful 2019 drilling campaign, provide adequate funding for i3's expected 2020 delivery of first oil from Liberator.
i3 will provide updates to the market at such time as the final junior and senior loan agreements are executed.
ENDS
CONTACT DETAILS:
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c/o Camarco Tel: +44 (0) 203 781 8331 |
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Tel: +44 (0) 207 220 1666 |
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GMP FirstEnergy (Joint Broker) |
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Tel: +44 (0) 207 448 0200
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Tel: +44 (0) 207 523 8000
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Camarco |
Tel: +44 (0) 203 781 8331 |
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Notes to Editors: i3 is an oil and gas development company initially focused on the
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. |
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