i3 Energy Plc (ITEEF)

[pro_s2009]

https://www.thetimes.co.uk/article/north-sea-oil-duo-move-serenely-onwards-with-partnership-deal-qxdz0973g

North Sea oil duo move serenely onwards with partnership deal

Drilling on a North Sea oil and gas project is set to start shortly after a partnership deal was completed.

Europa Oil & Gas is taking a 25 per cent share of the Serenity prospect from i3 Energy. In return, Europa is paying for 46.25 per cent of the cost of the appraisal well, assuming that the cost does not top £15 million. Anything beyond that would be shared, based on the respective stakes held by the companies.

The drilling on Serenity is scheduled to begin next month and should give a greater understanding of the resources available in the area. Oil was discovered there in 2019 and it was estimated that up to 197 million barrels could be in place.

It is thought that.......................