2 Apr 2013 08:30
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)
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Phil Davies / James Wood (Corporate Broking) | Charles Stanley Securities | 020 7149 6074 |
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