Business
Ksar Hadada Permit Update
Ksar Hadada Permit Update.
About this update from Nativo Resources Plc
[{"type":"text","content":"\n \nRNS Number : 4304U Independent Resources PLC 07 April 2016 \n\nFor immediate release\n7 April 2016 \n \nINDEPENDENT RESOURCES PLC\n(\"Independent Resources\" or the \"Company\")\nKsar Hadada Permit\nIncreased Working Interest and Application for Extension\n \nThe Board of Independent Resources plc (\"Independent Resources\" or the \"Company\"), the AIM listed oil and gas exploration and production company (AIM:IRG), is pleased to announce that with immediate effect Independent Resources Ksar Hadada Limited (\"IRKH\"), a wholly owned subsidiary of the Company, has assumed 100% of the contractor interest in the onshore Ksar Hadada hydrocarbon exploration permit, Tunisia (the \"Permit\").\nIRKH is now the sole contractor in the Production Sharing Contract following a successful submission to Entreprise Tunisienne d'Activités Pétrolières (\"ETAP\") and the Ministry of Industry, Energy and Mines (through its permitting authority Direction Générale de l'Energie (\"DGE\")) to facilitate the withdrawal of its minority partners.\nIRKH has requested that ETAP submit an application to DGE for a one-year extension to the Ksar Hadada permit. \nFurther announcements will be made in due course. \nGreg Coleman, CEO, stated:\n\"We are pleased to be have increased our interest in the Ksar Hadada permit and will continue to seek a farm-in partner. IRKH will now have greater flexibility to agree new commercial arrangements with interested parties and in the short-term will have a reduced administrative burden as sole contractor.\nWe have been engaged in ongoing discussions with ETAP in order to prepare our application for an extension.\nOur immediate priorities are to continue planning for the acquisition of 3D seismic, to prepare our drilling programme and to progress discussions with potential farm-in partners. The Company is also continuing to seek both debt and equity finance to meet its future financing requirements.\"\n \nFor more information, please visit www.ir-plc.com or contact:\n\n\n\n\nGreg Coleman\n\n\n\n\n\nIndependent Resources plc\n\n\n020 3367 1134\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nAdam James\n\n\n\n\n\nPanmure Gordon (UK) Limited\n\n\n020 7886 2500\n\n\n\n\n\n\n\n\n\n\n(Nominated Adviser & Joint Broker)\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nOliver Stansfield\n\n\n\n\n\nBrandon Hill ...