i3 Energy appoints Board member John Festival as Non-Executive Chairman

– UK, Westhill –  i3 Energy plc (LON: I3E | TSX: ITE), an independent oil and gas company with assets and operations in the UK and Canada, today announced the appointment of Board member John Festival as Non-Executive Chairman, effective immediately, replacing interim Chair, Linda Beal, who remains as a Non-Executive Director and chair of the Audit and Governance Committees.

“The Board and executive management are thrilled that John has accepted the role as Chairman. His highly successful track record of founding, growing, and monetizing oil & gas companies is recognized and respected in both jurisdictions where i3 operates, and his business acumen is well-matched to the needs of the Company as it continues to expand production while drilling up its potentially high-growth portfolio in Canada and the North Sea. The Company is sharply focussed on growing its current production base of over 20,500 boepd and crystallising value from its extensive portfolio of development catalysts and John’s technical and commercial background and track record is ideally suited to guiding the business through that journey.” said CEO, Majid Shafiq.

About John Festival

John Festival has been a Non-Executive Director with i3 since its December 2020 acquisition of Toscana Energy Income Corporation, where he had long served as a director. John is a chemical engineer with 38 years of experience in the oil and gas sector and has a track record of founding, growing and monetizing oil and gas ventures.

He is currently the CEO of Broadview Energy and was the President and CEO of Black Pearl Resources Inc. He was previously the founder and President of BlackRock Ventures Inc. which was established in 2001 and sold to Shell Canada for CAD$2.4 billion in 2006.

He graduated in 1984 with a Bachelor of Science degree in Chemical Engineering from the University of Saskatchewan.

About i3 Energy

i3 Energy is an oil and gas Company with a low-cost diversified, owing production base in Canada’s most prolific hydrocarbon region, the Western Canadian Sedimentary Basin, and appraisal assets in the North Sea with significant upside.

The Company is well positioned to deliver future growth by optimizing its existing 100% owned asset base and acquiring long-life low declining conventional production assets.

i3 is dedicated to responsible corporate practices and the environment, and places high value on adhering to strong Environmental, Social, and Governance practices. i3 is proud of its performance to date as a responsible steward of the environment, people, and capital management. The Company is committed to maintaining an ESG strategy, which has broader implications for long-term value creation, as these benefits extend beyond regulatory requirements.

For more information:  https://i3.energy/

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