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 opportunity.

The online data room remains open and technical presentations continue to be held with additional potential partners. Securing a farm out remains a priority and the Company will look to update shareholders in due course on developments. It should be noted that the economics of the Ksar Hadada opportunity are robust at today's lower oil prices and would still remain favourable at prices below US$40 per barrel.

Tags: Independent Resources plc