Mr. Majid Shafiq reports

I3 ENERGY PLC ANNOUNCES SERENITY UPDATE

i3 Energy PLC has provided the following update regarding Serenity.

i3 Energy is aware that the licence for the Tain discovery (previously held by RSRUK and Rockrose Energy) recently lapsed and that the Tain acreage is therefore unlicensed and available to be relicensed in the future.

i3 has been working for some time to advance a solution for the Blake/Tain/Serenity area but this has made little progress whist the previous Tain licensees were unable to approve additional investment. With the acreage now unlicensed, additional options for the area may now come available and i3 and its partner in the Serenity field, Europa Oil and Gas, are commencing discussions with the NSTA (North Sea Transition Authority) and other interested parties to explore the remaining potential of the wider area.

About i3 Energy PLC

i3 Energy is an oil and gas company with a low-cost, diversified, growing production base in Canada's most prolific hydrocarbon region, the Western Canadian sedimentary basin, and appraisal assets in the North Sea with significant upside.

The company is well positioned to deliver future growth through the optimization of its existing 100-per-cent-owned asset base and the acquisition of long-life, low-decline conventional production assets.