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Independent Resources () has completed a survey of the Ksar Hadada area, in Tunisia, and has told investors it believes there are multiple drillable low risk prospects within the permit.
"Even at today's low oil prices, we believe that these prospects are economic based on the expected volumes and probable rates of hydrocarbon flow and decline," the company said in a statement.
The survey, commissioned in July, was completed with the findings received by IRG within schedule.
According to IRG the survey has identified material hydrocarbon prospects, which have not been seen previously with other technologies.
The company said it would now integrate the findings with is existing database. And subsequently it intends to use the data to develop a drill programme.
For that to go ahead IRG will need a new partner, and as part of the farm out process it is updating interested parties of today's findings.
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Independent Resources Plc
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CODE : IRG.L |
ISIN : GB00B0RNX796 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Independent Res. is based in United kingdom. Independent Res. is listed in United Kingdom. Its market capitalisation is GBX 184.9 millions as of today (US$ 221.3 millions, € 193.9 millions). Its stock quote reached its highest recent level on May 29, 2009 at GBX 97.50, and its lowest recent point on May 20, 2016 at GBX 0.04. Independent Res. has 402 003 697 shares outstanding. |