i3 Energy engages FirstEnergy to help with Liberator farm-out

first_imgOil and gas company i3 Energy has engaged an acquisitions and divestitures advisor, FirstEnergy Capital LLP, to assist with the farm-out of the greater Liberator development and appraisal program.i3 said on Wednesday that FirstEnergy was active in recent UK North Sea transactions and, upon the company’s assessment of numerous potential advisors, was determined to be the most capable party to assist with its JV initiative.It is intended that the process will conclude in advance of i3 receiving Liberator field development plan (FDP) approval.i3 had previously granted a 90-day period of exclusivity to a potential joint venture partner during which time the farminee was expected to deliver on key assurances. While some of these remain outstanding, i3 stands ready to consider the potential farminee’s proposal at such time as their structural issues have been resolved.Concurrent with its farm-out process, the company said it would engage UK-based lenders to upsize the level of credit that may be available for its Liberator development.Indicative proposals had been received in November 2017 when Brent was circa $60/bbl and prior to i3’s award of Block 13/23c in the UK’s 30th Offshore Licensing Round, containing the western extension of the Liberator field, which added 22 MMBO of 2C Contingent Resources and 47 MMBO of mid-case Prospective Resources to i3’s portfolio.i3 added that it was progressing with all requirements needed to achieve FDP approval in early 2019. An enlarged FDP will be presented to the OGA for consideration before the end of the year.Majid Shafiq, CEO of i3, who took on the role earlier this month, said: “We are confident that FirstEnergy is best placed to help us during our first concerted effort to market i3’s development and appraisal program of the greater Liberator area to potential joint venture partners and we are very pleased to be working with their team.“Liberator has received strong interest to date, and both i3 and our A&D advisor believe this farm-out process to be well-timed within the current environment.”The Greater Liberator Area consists of the Liberator oil field discovered by well 13/23d-8 and the Liberator West extension. i3 holds a 100% working interest in both of these. Liberator is located in the North Sea, immediately adjacent to the Blake Field and only two kilometers from Blake’s producing drill center.last_img read more

D Day for Irish soccer team

first_imgIt’s D Day for the Republic of Ireland soccer team at Euro 2016After a draw against Sweden and a disappointing loss to Belgium, Martin O’Neill’s side need a win tonight in Lille against Italy to be assured of progressing to the knock-out stages.O’Neill says that he wants his side to go into the game with a positive approach tonight. Full-back Seamus Coleman says that O’Neill’s motivational skills means that anything is possible…Kick-off tonight in Lille is at 8pm, which is also the start time for the other Group E contest between Sweden and Belgium.last_img read more


first_imgKelly’s Centra have been awarded with a SILVER MEDAL at the National Convenience Store awards ceremony which was held earlier this week.It’s yet more recognition for a business that has established itself as one of the best convenience stores not only locally but also nationally.With over 500 entrants, a rigorous elimination process was used to narrow down those nominated for the best convenience store in Ireland. Martin Kelly admitted that the fact they placed 2nd in the entire country is unbelievable acknowledgment and recognition for all the staff and management for their effortsMartin Kelly told Donegal Daily, “We are regular industry award winners and it’s our goal to be the very best we can every single day.“We strive for that because we pride ourselves on our customer service excellence.KELLY’S CENTRA MOUNTAIN TOP NAMED SECOND BEST CONVENIENCE STORE IN IRELAND was last modified: November 28th, 2014 by Mark ForkerShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window) Tags:awardbusinessesFeaturesKelly’s CentraMountain Topnewslast_img read more