i3 Energy PLC (AIM:I3E) Serenity Well Engineering Operator Contract Award

Serenity Well – Award of Well Engineering Operator Contract

i3 Energy plc (AIM:I3E) (TSX:ITE), an independent oil and gas company with assets and operations in the UK and Canada, is pleased to announce that it has entered into a contract with Petrofac Facilities Management Limited (“PFML”) under which PFML will provide well engineering, operations management and operator services for the drilling of the Serenity appraisal well on its UK North Sea Licence P.2358 Block 13/23c.

The contract allows i3 access to PFML expertise and services for a three-year period. PFML has an existing contract with Stena Drilling Limited for the use of the Stena Don, a harsh environment, dynamically positioned fifth generation, semi-submersible drilling unit. i3 has secured a well slot with a commencement date between 15 August and 15 September 2022.

Majid Shafiq, CEO of i3 Energy plc, commented:

“We are very pleased to be working again with PFML who we contracted to drill the Serenity discovery well in 2019, where operations were completed successfully, safely, on time and on budget. Operations planning is well underway, and we are on-track to spud the Serenity appraisal well in early September.”

END

Enquiries:

i3 Energy plc

Majid Shafiq (CEO) / Graham Heath (CFO)

c/o Camarco

Tel: +44 (0) 203 781 8331


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