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Last 0.80 GBp
Change Today -0.025 / -3.03%
Volume 2.1M
IRG On Other Exchanges
As of 6:49 AM 10/7/15 All times are local (Market data is delayed by at least 15 minutes).

independent resources plc (IRG) Snapshot

0.83 GBp
Previous Close
0.83 GBp
Day High
0.85 GBp
Day Low
0.80 GBp
52 Week High
10/28/14 - 5.63 GBp
52 Week Low
07/7/15 - 0.50 GBp
Market Cap
Average Volume 10 Days
0.03 GBp
Shares Outstanding
Dividend Yield

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independent resources plc (IRG) Details

Independent Resources Plc, through its subsidiaries, engages in the appraisal and development of oil and natural gas producing assets primarily in the United Kingdom, Italy, and Tunisia. The company holds a 86.345% working interest in the Ksar Hadada exploration permit covering an area of 2,252 square kilometers located onshore south-east Tunisia. It also manages the appraisal of underground gas storage facilities. The company was incorporated in 2005 and is based in London, the United Kingdom.

8 Employees
Last Reported Date: 06/25/15
Founded in 2005

independent resources plc (IRG) Top Compensated Officers

Chief Executive Officer and Executive Directo...
Total Annual Compensation: 120.0K GBP
Commercial Director and Executive Director
Total Annual Compensation: 20.0K GBP
Part Time Consultant
Total Annual Compensation: 112.7K GBP
Compensation as of Fiscal Year 2014.

independent resources plc (IRG) Key Developments

Independent Resources plc Reports Unaudited Consolidated Earnings Results for the Six Months Ended June 30, 2015

Independent Resources plc reported unaudited consolidated earnings results for the six months ended June 30, 2015. For the period, the company reported operating loss of £741,558 against £661,545 a year ago. Loss before tax from continuing operations was £741,360 against £661,430 a year ago. Loss for the period from continuing operations was £741,360 against £661,430 a year ago. Loss for the period was £890,275 against £5,441,788 a year ago. Loss attributable to owners of the parent was £890,275 against £5,441,788 a year ago. Basic and diluted loss per share was 0.7 pence against 11.8 pence a year ago. Loss per share from continuing operations basic and diluted was 0.6 pence against 1.4 pence a year ago. Net cash used in operating activities was £780,814 against £796,987 a year ago. Purchase of intangible assets was £22,113 against £79,609 a year ago. Purchase of property, plant and equipment was £440 against £5,565 a year ago.

Nostra Terra Announces the Signing of a Strategic Joint Venture Agreement with Independent Resources plc

Nostra Terra announced the signing of a strategic joint venture agreement with Independent Resources, a similar strategic intention to that of Nostra to invest in producing or near-production assets. Under the terms of the Agreement, the parties will co-operate in areas of project identification and due diligence, financing, geological exploitation, technical support, operations and procurement with a geographical focus on North Africa with immediate attention focused on Egypt and Tunisia. The company's are specifically targeting existing producing assets with an immediate focus on cash flow, where the company's can leverage the equity investments and grow portfolio. Together the companies will work on sourcing opportunities where there is scope to: increase production through better field, reservoir and well management; reduce operational costs; and deliver good economic returns even at current oil pricing. As partners, the joint strategy for delivering value will involve investing in assets where the application of modern industry practices including: precision drilling technology, including horizontal drilling and multi stage well stimulation; precise 3D seismic mapping; detailed log and technical evaluation; and multi-zone well completions. The company's will offer scope to significantly increase recovery from fields that the management of Nostra Terra and Independent Resources would regard as having historically failed to produce to optimal levels. While the ability to operate licences will be sought, non-operated investments with a significant working interest and hence scope to influence field operations will also be considered. Nostra Terra and IRG will establish a new legal entity that will be owned jointly by them and which will be used to execute new investments in due course.

Independent Resources plc Reports Unaudited Consolidated Earnings Results for the Year Ended December 31, 2014

Independent Resources plc reported unaudited consolidated earnings results for the year ended December 31, 2014. For the period, the company reported Operating loss before impairment of GBP 360,916 compared to GBP 300,214 a year ago. Loss on ordinary activities before taxation was GBP 4,907,737 compared to GBP 297,338 a year ago. Net cash outflow was GBP 36,440 compared to net cash inflow of GBP 10,239 a year ago. Net loss for the year was GBP 6,480,465 compared to GBP 3,350,702 a year ago. Diluted loss per share was 8.3 pence compared to 7.3 pence a year ago.


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