Petroceltic International Plc, Independent Resources Plc

Petroceltic International Plc, Dublin, and Independent Resources Plc have retained Stellar Energy Advisors Ltd. to seek a farm-out partner of the Ksar Hadada permit in southeastern Tunisia. The prospect involves the 5,610-squarekilometer Ksar Hadada Block on the northeast flank of the Ghadames Basin. The primary reservoir target is the Cambro- Ordovician quartzite. Oil is produced from this reservoir in the Hassi Messaoud Field in Algeria. The permit is almost entirely onshore and bounded to the east by the Libyan border. The exploration permit was awarded for 10 years, The companies are offering the opportunity to participate in a shallow drilling program to evaluate an inventory of prospects in the proven Cambro-Ordovician and Silurian Acacus plays, plumbed into the Ghadames Basin kitchen, with potential mean reserves in excess of 350 million barrels unrisked. Other test wells are planned. The bid due date is April 4. Contact David Fassom, +44-20-7493-1977