Joint venture discussions still ongoing at i3 Energy

Independent oil and gas company i3 Energy updated the market on its funding progress on Friday, following its announcement on 31 January that joint venture discussions were at an “advanced stage” with multiple industrial partners.

The AIM-traded firm said at the time that those discussions related to both its 100% owned Liberator Oil Field and its 30th Offshore Licensing Round application.

It said on Friday that those discussions remained ongoing, and that it expected to reach a conclusion “in due course”.

The board cautioned that there could be no certainty that the negotiations and discussions would lead to definitive agreements.

“We are pleased to report that we are making continued progress on our JV discussions with multiple industrial partners relating to both i3's 100% owned Liberator Oil Field and its 30th Round application,” said CEO Neill Carson.

“We look forward to updating our shareholders as agreements materialize.”