i3 Energy seeks extension to Liberator funding deadline

Independent oil and gas company i3 Energy updated the market on the long-stop date for development funding on the Liberator field on Friday.

The AIM-traded firm noted that, on 8 November, the majority noteholders agreed to extend the date by which it needed to enter into a reserves based lending facility or find an alternative means of funding to achieve first oil from Liberator, to 30 April.

“As the company will not be in a position to enter into such a facility by 30 April, the company is in discussions with all noteholders to waive this condition and expects to provide an update to the market prior to 30 April,” the board said in its short update.

At 1334 BST, shares in i3 Energy were down 11.43% at 4.65p.