The company's core activities are the development of a major underground gas storage facility, together with upstream assets in Italy and North Africa. The directors believe that the potential for integration and leverage between these storage, exploration and production projects provides the foundation on which to build a profitable, relatively low-risk, high-value business.
Rivara underground gas storage facility
Independent Resources plans to construct a large underground storage (UGS) facility by storing natural gas in a deep, naturally fractured reservoir in Italy's Po Valley. The Rivara project has been granted a provisional long-term concession by Italy's Ministry of Economic Development (MSE) which is subject to completion of a satisfactory environmental impact assessment and final approval by MSE. MSE and Italy's gas markets regulator (AEEG) are eager to encourage new gas storage capacity in the country to alleviate the well-documented deficit in this sector of the gas supply chain which is a matter of public interest.
Latest Independent Resources News
Highlights First investment made in Egypt through the acquisition of a 25% effective working interest in East Ghazalat Completion of rationalisation of Italian cost base Farm-in discussions continue for Ksar Hadada and a one year licence extension was awarded post year end Equity fundraising of &pou... Thursday, June 30, 2016
Independent 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'). Nostra Terra Oil & Gas... Tuesday, June 21, 2016
Following its announcement of 10 May, 2016, IRG is pleased to announce that it has made further substantial progress in improving its financial position through reducing its indebtedness by a further £305,000 to approximately £230,000 (unaudited). Key points: Settlement of £148,00... Wednesday, May 25, 2016
Further to the announcement of 21 April 2016 the Board of Independent Resources plc, the AIM listed oil and gas exploration and production company (AIM:IRG) with activities in Tunisia, Egypt and Italy, provides the following update regarding the Ksar Hadada hydrocarbon exploration permit, Tunisia. ... Wednesday, May 11, 2016
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Further to the announcement of 7 April 2016 the Board of Independent Resources plc, the AIM listed oil and gas exploration and production company (AIM:IRG) provides the following update regarding the Ksar Hadada hydrocarbon exploration permit, Tunisia. Entreprise Tunisienne d'Activités P&eac... Thursday, April 21, 2016