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
Update on Ksar Hadada Management continue to progress farm out discussions in relation to the Group's working interest in the Ksar Hadada licence onshore Tunisia. The opportunity is being marketed by Envoi and a number of third parties have expressed interest and are currently evaluating the opport... Tuesday, March 3, 2015
The Board of Independent Resources announce the immediate appointment to the Board of Owain Franks as Commercial Director. Owain has been working with IRG for over a year as Commercial Director. Previously Owain was a partner in PwC in the UK for 21 years. As well as having been a member of PwC'... Monday, November 3, 2014
Independent Resources is pleased to announce that it has now received formal confirmation that the meeting of the Consultative Commission on Hydrocarbons of Tunisia ("CCH"), held on 7 August 2014, approved the extension of the Ksar Hadada licence to April 2016. Independent Resources Ksar ... Monday, August 18, 2014
On 30 May 2014, the Board of IRG (AIM: IRG) announced details of a proposed share issue to raise gross proceeds of up to £2.76 million, including an Open Offer of up to 41,669,879 New Ordinary Shares (the "Open Offer)" at a price of 3 pence per New Ordinary Share. Defined terms used... Tuesday, June 17, 2014
All Independent Resources News
As previously announced, Tunisia's national oil company, Entreprise Tunisienne d'Activités Pétrolières (ETAP) made an application on 19 February 2014 to Tunisia's Ministry of Industry, Energy and Mines (through its permitting authority Direction Général... Tuesday, April 15, 2014