i3 Energy plc’s subsidiary in Canada has agreed to sell certain of its royalty assets for gross cash of US$24.81 million (£19.9m). GROWTH The company said that the definitive transaction, with a “newly formed private royalty company” marked the next step in changing i3’s capital structure. The deal will also enhance its financial flexibility through […]
Tag: i3 Energy plc
i3 Energy secures new CA$75m credit
i3 Energy plc has re-financed its existing CA$57m loan with a CA$75 million reserve-based credit facility. VALIDATION The new senior secured credit with a Canadian chartered bank comprises a $55m revolving facility and a $20m operating loan. The agreement also see repayment of $57m, which is the outstanding balance of i3 Energy’s existing $75m loan […]
i3 cuts emissions by 4% at Canada-UK operations
i3 Energy plc’s environment, social and governance 2022 report shows a reduction in emissions alongside expanding operations in Canada and the UK North Sea. ENVIRONMENT The group aims to be net zero by 2050 for scope 1 and 2 emissions, relating to direct greenhouse gas emissions from its owned or controlled sources such as those […]
i3 Energy issues 570,000 shares in options exercise
i3 Energy plc is issuing 573,199 ordinary shares of 0.01 pence each following the exercise of options by an employee, at an exercise price of £0.05 per ordinary share. Following admission, the company will have 1,202,447,663 ordinary shares of 0.01 pence each in issue, with none held in treasury.
Talks begin on potential for Serenity field
The Serenity joint venture look to advance operations as talks begin over surrounding acreage which has become unlicensed. INVESTMENT Operator i3 Energy plc and partner Europa Oil & Gas (25%) have made little progress on the Blake, Tain and Serenity area while the previous licensees were “unable to approve additional investment”. In October 2022, the […]
i3 Energy CFO purchases 200,000 ordinary shares
i3 Energy plc chief financial officer Jason Dranchuk has bought 200,000 ordinary shares of 0.01 pence each in the company, at a price of C$0.215 per share. The purchase, on 22 and 25 September 2023, takes Mr Dranchuk’s total beneficial interest to 200,000 ordinary shares, representing 0.02% of the company’s issued share capital.