i3 Energy PLC (LON:I3E) Commences Serenity Drilling Operations

Majid Shafiq, CEO of i3 Energy commented: We are excited to be drilling this potentially high-impact well at Serenity which could add materially to i3’s reserves and resources and may become a fast-tracked development alongside the neighbouring Tain oil field.

The Borgland Dolphin continues to perform very well with operations running smoothly to date and we look forward to updating the market as our well objectives are achieved.”

i3 Energy plc, an independent oil and gas company with assets and operations in the UK, is pleased to announce that the Borgland Dolphin semi-submersible drilling rig has arrived on location at the Serenity field and that the SA-01 appraisal well has now been spud.

The Company will provide SA-01 drilling results to the market when the well has reached total depth and acquired data has been evaluated.

The SA-01 well is intended to confirm that the Serenity structure, which the Company has previously announced is estimated to have a P50 resource of 197 MMbbls of STOIIP, is hydrocarbon bearing and that it is a material extension of the Tain discovery which is situated in the adjoining Block 13/23b. Upon completion, the Serenity well will be plugged and abandoned as planned.

 

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