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2 Apr 2013 08:30
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Independent Resources plc
("IRG" or "the Company")
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2013 strategy
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2 April 2013
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The Company is pleased to outline its strategy for 2013.
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Existing portfolio
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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:
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Ā·; San Gervasio- finalise award and bring on stream by the end of the year
Ā·; Rivara- preserve option value while minimizing expenditure
Ā·; Ribolla - secure a farm out partner to conduct phase 1 appraisal
Ā·; Ksar Hadada - secure a farm out partner to drill in 2013/2014
Ā·; Sibilla - study and research as required.
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Target acquisitions
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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:
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Ā·; underdeveloped and de-risked oil and gas fields
Ā·; low cost, onshore and shallow water production and developments
Ā·; assets in Turkey, Egypt, Italy, Tunisia and other Black Sea countries.
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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) Ā | ||
Phil Davies / James Wood (Corporate Broking) | Charles Stanley Securities | 020 7149 6074 |
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