IN BRIEF: i3 Energy Shares Suspended On Plan To Acquire Toscana Energy

i3 Energy PLC - oil & gas company - Executives option to wholly acquire TSX-listed Toscana Energy ...

Alliance News 23 June, 2020 | 6:45PM
Email Form

i3 Energy PLC - oil & gas company - Executives option to wholly acquire TSX-listed Toscana Energy Income Corp. Will pay CAD2.9 million for Toscana's debt and equity. In 2019, Toscana had 2019 year-end proved and probable reserves of 4.65 million barrels of oil equivalent, with 53% oil and 47% gas. i3 shares suspended as acquisition constitutes reverse takeover under AIM rules. i3 also in non-binding letter of intent to acquire package of Canadian oil and has assets, with production of 10,000 boepd in 2019, at a price of around USD60 million. i3 Energy expects to publish 2019 results by no later than end of September.

Current stock price: 6.15 pence

Year-to-date change: down 54%

By Dayo Laniyan; dayolaniyan@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

Email Form

Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
i3 Energy PLC 5.20 GBX 8.33 -

About Author

Alliance News

Alliance News provides Morningstar with continuously updating coverage of news affecting listed companies.

Audience Confirmation


By clicking 'accept' I acknowledge that this website uses cookies and other technologies to tailor my experience and understand how I and other visitors use our site. See 'Cookie Consent' for more detail.

  • Other Morningstar Websites
© Copyright 2020 Morningstar, Inc. All rights reserved.

Terms of Use        Privacy Policy        Cookies