- i3 Energy (ITE) has appointed John Festival as its new Non-Executive Chairman
- Festival is a chemical engineer with 38 years of experience in the oil and gas sector
- He previously served as an executive at Black Pearl Resources and BlackRock Ventures, both of which were acquired under his tenure
- The company remains focused on expanding production across its diversified portfolio
- i3 Energy is an oil and gas company active in the Western Canadian Sedimentary Basin and the North Sea
- i3 Energy (ITE) is up by 1.32 per cent trading at $0.385 per share
i3 Energy (ITE) has appointed John Festival as its new Non-Executive Chairman.
Festival has been Non-Executive Director since i3’s December 2020 acquisition of Toscana Energy Income Corporation, where he had long served as Director.
He is a chemical engineer with 38 years of experience in the oil and gas sector and a track record of founding, growing and monetizing oil and gas ventures.
He is currently Broadview Energy’s CEO and served as President and CEO of Black Pearl Resources prior to its US$715 million acquisition by International Petroleum in December 2018.
He was also the founder and President of BlackRock Ventures, which was sold to Shell Canada for C$2.4 billion in 2006.
Linda Beal, the outgoing Interim Chairwoman, will remain as Non-Executive Director and Chair of the audit and governance committees.
“[John’s] highly successful track record of founding, growing and monetizing oil and gas companies is recognized and respected in both jurisdictions where i3 operates,” stated Majid Shafiq, CEO of i3 Energy, “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.”
i3 Energy is an oil and gas company with a low-cost, diversified and growing production base in the Western Canadian Sedimentary Basin. It also holds appraisal assets in the North Sea.
i3 Energy (ITE) is up by 1.32 per cent trading at $0.385 per share as of 12:22 pm EST.
