UK-listed independent i3 Energy has kicked off drilling the latest well at its Liberator field in the UK North Sea.

The company also announced it has raised £5 million ($6.4 million) through a new private placement with existing lenders and has extended a key funding deadline.

The well — A2 — is being drilled by Dolphin Drilling semi-submersible Borgland Dolphin, the same rig that recently discovered oil for i3 at the nearby Serenity field.

Chief executive Majid Shafiq said: "We are excited to be drilling again at Liberator on the back of our success at Serenity.