i3 Energy has raised £40m via a placing of 363.7m shares at 11p (a 3% discount to the 15-day average closing price; announced yesterday). In connection with the placing, the company has secured a $US 53.7m strategic acquisition in central Alberta, Canada. The acquired assets are producing circa 8,418 boe/d (51% liquids) and are expected to generate circa $US 31m of cash flow (in the field, excluding any incremental corporate costs). We see the acquisition and the related placing as positive from ....
08 Jul 2021
i3 Energy (i3E) – Strategic acquisition and successful £40m placing
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i3 Energy (i3E) – Strategic acquisition and successful £40m placing
i3 Energy Plc (I3E:LON) | 12.9 0.1 5.9% | Mkt Cap: 155.4m
- Published:
08 Jul 2021 -
Author:
Brendan Long -
Pages:
5
i3 Energy has raised £40m via a placing of 363.7m shares at 11p (a 3% discount to the 15-day average closing price; announced yesterday). In connection with the placing, the company has secured a $US 53.7m strategic acquisition in central Alberta, Canada. The acquired assets are producing circa 8,418 boe/d (51% liquids) and are expected to generate circa $US 31m of cash flow (in the field, excluding any incremental corporate costs). We see the acquisition and the related placing as positive from ....