2013 Strategy

RNS Number : 2862B

Independent Resources PLC

02 April 2013

 



Independent Resources plc

("IRG" or "the Company")

2013 strategy

2 April 2013

The Company is pleased to outline its strategy for 2013. 

Existing portfolio

With respect to the Company's existing assets, the focus will be on retaining exposure to the upside of the existing portfolio with minimum expenditure; in particular:

·     San Gervasio- finalise award and  bring on stream by the end of the year

·     Rivara- preserve option value while minimizing expenditure

·     Ribolla - secure a farm out partner to conduct phase 1 appraisal

·     Ksar Hadada - secure a farm out partner to drill in 2013/2014

·     Sibilla - study and research as required.

Target acquisitions

The Company intends  to make acquisitions of oil and gas assets in the Mediterranean basin utilizing its relationships and technical and operational capability focused on:

·   underdeveloped and de-risked oil and gas fields

·   low cost, onshore and shallow water production and developments

·   assets  in Turkey, Egypt, Italy, Tunisia and other Black Sea countries.

For further information, please visit www.ir-plc.com or contact:
Greg Coleman	Independent Resources plc	0207 583 8292
Allan Piper/Simon Hudson	Tavistock Communications	020 7920 3150
David Porter/Richard Thompson (Corporate Finance)	Seymour Pierce	020 7894 7000
Richard Redmayne/David Banks (Corporate Broking)
Phil Davies / James Wood (Corporate Broking)	Charles Stanley Securities	020 7149 6074

 

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