i3 Energy eyeing up acquisitions after raising forecasts
–News Direct–
i3 Energy PLC (AIM:I3E, TSX:ITE, OTC:ITEEF) chief executive Majid Shafiq speaks to Thomas Warner from Proactive after the independent oil and gas company released an interim report and an operational update for H1 2023. Shafiq shares a comprehensive update on the company's first half achievements and financial milestones, saying i3 Energy successfully completed eight gross wells, contributing to a 9% YoY production increase, despite challenges like facility maintenance and wildfires.
The year-end reserves audit for 2022 showed an impressive 80% increase in RTP reserves, reflecting a robust resource base with a 22-year reserve life. Financially, i3 Energy refinance their outstanding loan notes with a $100mln Canadian facility from Trafigura, strengthening their finan...