Echo Energy Regulatory News (ECHO)

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.