i3 Energy plc’s (LON:i3E) CEO Majid Shafiq and CFO Graham Heath discuss with Proactive London’s Andrew Scott a letter of intent that’s been signed for a multi-well drill programme that’s intended to take the Liberator field to the cusp of production.
The company’s received proposals regarding offtake terms for Liberator’s future production plus they also give an update as to the ongoing project financing work.
They’re presently negotiating terms for US$100-130mln of debt to fund appraisal drilling and the Phase 1 Liberator development capital expenditure with an agreement expected in the near-term.
Source Linkwww.proactiveinvestors.co.uk
