Wednesday 12 December 2018

i3 Energy plc, an independent oil and gas company with assets and operations in the UK, has released a new presentation on its website which provides additional information regarding its Serenity prospect. The Company will be presenting this material as part of its participation at the PROSPEX 2018 oil and gas exploration networking event in London on December 12th and 13th.

As previously announced, i3 has been assessing a structure in the northern portion of its 100% owned Licence P.2358 Block 13/23c, which it calls the Serenity prospect. Serenity is an amplitude supported feature that has an areal extent of circa 10 km2 and is interpreted to be the westerly extension into Block 13/23c of the Tain discovery. The Tain discovery well, drilled in September 2005, encountered 32° API oil in Captain and Coracle sands and was subsequently appraised by three wells.

i3 estimates Serenity to have a P50 STOIIP of 197 MMstb, bringing the total potential un-risked Mid case STOIIP within i3 Energy's licenced areas containing the Greater Liberator development and the Serenity prospect to greater than 500 MMstb.

Serenity provides i3 with exposure to low cost and potentially high return upside that could be tied in to either its Liberator Phase I or incremental Phase II infrastructure.

The new presentation will be available on the Company's website later today, 12 December.