1st May 2020 17:30
(Alliance News) - i3 Energy PLC on Friday said it remains in discussions with all noteholders to waive Liberator development funding long-stop date condition.
Back in November 2019, the majority noteholders have agreed to extend the date - by which the company must enter into a reserves based lending facility or find an alternative means of funding to achieve first oil from the Liberator field - to April 30.
However, on Friday, the oil & gas company said it failed to enter into such a facility by the end of April. Therefore it is seeking to waive this condition and will update the market once these discussions have concluded.
AIM-listed i3 Energy shares closed 5.9% higher in London on Friday at 6.75 pence each.
By Evelina Grecenko; [email protected]
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