Re: IRG Stream Log - Independent Resources plc, I had...

Independent Resources plc, I had someone comment on how I had unjustly swept the Tunisian assets under the carpet, so I felt that I ought to do the just thing and come back to comment on them. So what are the Tunisian assets? Well, the company has a 18.97 per cent interest in the Ksar Hadada exploration permit, which covers an area of 2,252 square kilometres of onshore south-east Tunisia, which as far as I am aware is the only Tunisian Asset they hold (please correct me if I'm wrong). Now, the placing of this exploration permit is very important, because Tunisia has some very good geographic advantages when compared to other oil rich countries. Whilst I could spend all day writing about these advantages (such as not being landlocked), the main one is that it's next door to Libya. With the heightened levels of civil unrest in Libia, many people are undoubtedly questioning this advantage, but the advantage comes in the potential to get cheap and high quality outsourcing of oil extraction from a country that also has deposits of light oil. This is one of the many factors that adds to the long term prospects of Independent Resources plc as a whole, because whether these high quality assets lead to an increase in positive cash flow (as in the case of San Gervasio) or increase the prospects of a takeover/merger, the effect on the share price will almost certainly be very positive . Even though the spread is being kept quite high at the moment (most likely due to all of the impending short term good news analysts are expecting) buying now into Independent Resources plc will ensure you'll get a good long term base price to work your portfolio from.