EASTLEIGH, UK / ACCESSWIRE / October 4, 2023 / i3 Energy PLC (AIM:I3E)(TSX:ITE), an independent oil and gas company with assets and operations in the UK and Canada, announces 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 unlicenced and available to be re-licenced in the future.

We have 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 unlicenced, 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 and other interested parties to explore the remaining potential of the wider area.

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Notes to Editors:

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 optimisation of its existing 100% owned asset base and the acquisition of long life, low decline conventional production assets.

i3 is dedicated to responsible corporate practices and the environment, and places high value on adhering to strong Environmental, Social and Governance ("ESG") practices. i3 is proud of its performance to date as a responsible steward of the environment, people, and capital management. The Company is committed to maintaining an ESG strategy, which has broader implications for long-term value creation, as these benefits extend beyond regulatory requirements.

i3 Energy is listed on the AIM market of the London Stock Exchange under the symbol I3E and on the Toronto Stock Exchange under the symbol ITE. For further information on i3 Energy please visit https://i3.energy/.

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SOURCE: i3 Energy PLC