Independent Resources provides the following operational update for its Ksar Hadada oil and gas exploration permit covering 5,600 square km onshore Tunisia, where IRG holds an 18.97% interest (0.0% Paying Interest during the 2010 work programme).

The Company has previously announced that the joint venture acquired over 100km of new 2D seismic in Q4 2009, with processing and interpretation completed in January 2010. Well locations for two Ordovician prospects were selected and approved by the partners in early February 2010. Drilling is expected to commence in June 2010 and operations are expected to continue for an estimated 12 weeks.

The block's Operator, Petroceltic Ksar Hadada Limited(27.03% Working Interest and 0.0% Paying Interest during the 2010 work programme) has been notified by Compagnie Tunisienne de Forage ("CTF"), the drilling company contracted to execute these operations, that the planned CTF Rig 06 will be available to begin mobilizing towards the end of May. The joint venture still expects operations to begin in June.

Independent Resources Chairman Grayson Nash commented, "We were hoping to spud the first well - targeting Oryx - earlier in the month, but it now looks like this year's drilling operations at Ksar Hadada will commence in late June. We look forward to appraising the attractive potential on this block over this summer."

Tags: Independent Resources plc