Business
East Ghazalat Update
East Ghazalat Update.
About this update from Nativo Resources Plc
[{"type":"text","content":"\n \nRNS Number : 7536B Independent Resources PLC 21 June 2016 \n\nFOR IMMEDIATE RELEASE\n \n21 June 2016\n \nIndependent Resources plc\n(\"IRG\" or the \"Company\") \nEAST GHAZALAT UPDATE\n \nIndependent Resources is pleased to announce that our 50 per cent. owned associate Independent Resources Egypt Limited (\"IRE\") has now received security clearance from the Egyptian authorities and is formally registered with the Egyptian General Petroleum Corporation (\"EGPC\"). \nIRE have put in place the paperwork for the next step which will be Commercial Registration and the receipt of an Egyptian Tax Card to formally allow IRE to receive accrued revenues from 1 July 2015, the effective date of the acquisition of East Ghazalat. The final step of the registration process should be completed in a few weeks with revenue receipt to follow once invoices are verified and the EGPC payment process commences. \nThe completion of the registration process approves IRE to acquire further Egyptian licence interests.\nCEO comment\nGreg Coleman, CEO of IRG, commented:\n\"EGPC have been very supportive of our entry into the country and we look forward to building on our position through participation in upcoming licence rounds and the acquisition of further interests where the Company can demonstrate its operational and commercial capability to build production and reserve levels.\"\n \nFor more information, please visit www.ir-plc.com or contact:\n\n\n\n\nGreg Coleman\nAdam James\nOliver Stansfield\nJonathan Evans\nSimon Hudson\n\n\n\n\n\nIndependent Resources plc\nPanmure Gordon (UK) Limited\n(Nominated Adviser & Joint Broker)\nBrandon Hill Capital\n(Joint Broker)\nTavistock Communications\n\n\n020 3367 1134\n020 7886 2500\n\n020 3463 5000\n\n020 7920 3150\n\n\n\n\n \n\nThis information is provided by RNSThe company news service from the London Stock Exchange END MSCFMMPTMBITBLF\n ","length":4664,"tagName":"div"}]