Canada: i3 Energy announces strategic acquisition in its core Simonette area 01 Jun 2021 i3 Energy, an independent oil and gas company with assets and operations in the UK and Canada, has announced the execution of a strategic acquisition in its core Simonette area, taking operatorship and doubling its position in a premium light oil asset in the Lower Montney. Highlights: Acquired an additional 49.5% position plus operatorship in the Company’s South Simonette oil property, increasing i3’s interest to 99%. Cost to exercise the Right of First Refusal ('ROFR') of USD 4.2mm (CAD 5mm) plus planned capital investment of USD 0.58mm to reactivate two suspended wells in July results in effective acquisition at 1.49x next twelve months ('NTM') forecasted net operating income ('NOI' = revenue minus royalty, opex, transportation and processing costs) of USD 3.2mm.