Update on Rivara

Independent Resources PLC
16 May 2006

16 May 2006



                            Independent Resources plc

                                Update on Rivara

      Pressure from stored gas will be used to generate clean electricity

Independent Resources plc ('Independent Resources') (AiM: IRG) announces that
its plans for its proposed Rivara underground gas storage facility (UGS) in
Italy will include the generation of electricity from natural gas contained in
Rivara - without burning the gas.

Engineers at Independent Gas Management, a wholly-owned subsidiary of
Independent Resources, have devised a process to extract clean energy from the
volumes of natural gas that will be stored more than 2,500 metres below ground
within the Rivara UGS in northern Italy.  As gas is withdrawn from the storage
facility, the flow pressure will drive turbines that will generate electricity
for use onsite and for export to the Italian grid.

The preliminary engineering design to exploit Rivara's gas pressure involves
four turbines with a total generating capacity of some 24MW, much of which would
be operating as baseload electricity during peak demand periods for up to 85,000
MWh per year.  Baseload power in Italy is currently averaging around 70 euros
per MWh.

Completion of the environmental impact assessment (EIA) for Rivara has been
delayed slightly in order to incorporate this innovative proposal in the
development plan, and is now expected to be submitted by mid-June. The Italian
government and regulatory authorities are encouraging Independent Resources to
advance plans for Rivara as quickly as possible in view of the country's
increasingly severe gas supply constraints.

Independent Resources Executive Chairman Grayson Nash said: 'We believe that
this very significant enhancement to our overall development concept for Rivara
will not only provide us with a valuable extra revenue stream, but it will also
create a highly efficient and environmentally friendly source of additional
energy to help meet Italy's ever-growing demand.'

Independent Resources was admitted to AiM in December 2005. In addition to
Rivara, its assets include the Fiume Bruna coal bed methane (CBM) permit in
Italy and a 40% interest in the Ksar Hadada onshore permit in Tunisia.

Dr Stephen Staley is Independent Resources' Managing Director and has reviewed
and approved the content of the above. In a previous role Dr Staley was a Vice
President of Cinergy Global Power where he led the development and acquisition
of gas-fired and renewable power generation facilities and of gas and power
transmission assets in Europe, Africa and Asia. He also founded Derwent
Resources Limited, a consultancy company which advised on, inter alia, the
development and construction of power stations around the world.

Dr Staley holds a B.Sc.(Hons.) in geophysics from Edinburgh University and a
Ph.D. in petroleum geology from Sheffield University.  He is a qualified person
within the definition of the AiM guidelines.

For further information contact:

Independent Resources plc:

Stephen Staley, Managing Director                [phone]
                                                 [phone]

First City Financial Public Relations:

Ian Foster                                       [phone]
                                                 [phone]

Deloitte Corporate Finance:

Jonathan Hinton                                  [phone]
Feilim McCole



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