Independent Resources releases its trading update for the fourth quarter of 2015.

Highlights

Completion of East Ghazalat acquisition providing IRG with revenue generating assets in Egypt
Fourth quarter net production of 15,400 barrels of oil
Fourth quarter attributable revenues of US$242,499
Discussions in progress with East Ghazalat's operator North Petroleum to improve this asset's financial and operating performance
Finalising arrangements to invoice and receive revenue payments directly from the Egyptian General Petroleum Company to improve cash flow
Further technical analysis conducted on Ksar Hadada to assess its potential

Tags: Independent Resources plc