LONDON (Alliance News) - Independent Resources PLC on Thursday said it has identified two new substantial potential leads at the Acacus play in the Ksar Hadada prospect in Tunisia.
The company said the new leads have a recoverable estimated resource of 49 million and 13 million barrels of oil equivalent, respectively. It has undertaken further work to identify specific drilling locations based on the new survey results.
Independent Resources said the finds increase the likelihood of it conducting successful drilling at Ksar Hadada and said the size of the identified prospects and leads are commercially attractive even amid the current low oil price environment.
Shares in the company were up 27% on the news to 0.730 pence, one of the best performers in the AIM All-Share.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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