Shares in i3 Energy climbed by more than 12% this morning after the firm said it had received a positive response to the launch of its farm-out process for North Sea assets.
The exploration and production firm is trying to fund an appraisal drilling programme later this year by selling stakes in its wholly-owned Serenity and Liberator discoveries in the outer Moray Firth.
Based in Westhill, near Aberdeen, i3 said it was making “good progress” in its marketing of the acreage.
The company said: “The data room is now open and companies are actively evaluating the opportunity. We will update the market as discussions progress.”
Shares were up 12.34% to 8.65p in London as of 10:30am.
I3 also clarified that its plans for a secondary listing were due to “administrative reasons”.
The firm denied “market rumours” that it was preparing for an imminent equity placing.
Read also: North Sea explorer reveals plans for secondary listing, shares drop in London
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