Update re Ksar Hadada licence

RNS Number : 8971E

Independent Resources PLC

15 April 2014

 

15 April 2014

Independent Resources plc

("Independent Resources" or the "Company")

Tunisia - Update re Ksar Hadada licence

As previously announced, Tunisia's national oil company, Entreprise Tunisienne d'Activités Pétrolières (ETAP) made an application on 19 February 2014 to Tunisia's Ministry of Industry, Energy and Mines (through its permitting authority Direction Générale de l'Energie ("DGE")) with the support of the Company for Independent Resources to be the Operator of the Ksar Hadada licence with an interest of 86.345% of the Production Sharing Contract for the extension period of two years.

The final step before the formal gazetting of the approval is the meeting of the Consultative Commission on Hydrocarbons of Tunisia ("CCH") which formally recommends approval to the Minister.

The Company is waiting to be notified of the date of the CCH meeting having complied with all of the required obligations in relation to the application.  A further announcement will be made once the Company receives a determination from the CCH.

For further information, please visit www.ir-plc.com or contact:
Greg Coleman	Independent Resources plc	020 3367 1134
Phil Davies	Charles Stanley Securities (Nominated Adviser)	020 7149 6942
Simon Hudson	Tavistock Communications	020 7920 3150

 

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