- Oil and gas company i3 Energy said production from its Canadian assets were better than both internal and independent evaluator estimates and forecasts, generated at the time of the acquisitions.

Production was averaging 9,150 barrels oil equivalent per day in the period from November 2020 to January 2021.

Looking ahead, the company forecasts 2021 net operating income at around C$35 million and estimated capital spend of C$3 million.

The Noel well was expected to be brought online in Q@ 2021, and add about 500 barrels of oil equivalent per day.

The company also said it would declare its maiden dividend in Q1 2021 for payment in early Q2.

At 8:52am: (LON:I3E) I3 Energy Plc Ord 0.01p share price was 0p at 4.8p

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