Irish exploration company Petroceltic says Independent Resource has decided to take up an option to take a 38% stake in its Ksar Hadada licence in Tunisia. Petroceltic will remain the operator of the area, with a 57% interest.
The deal will accelerate a new exploration programme which will include testing of the Sidi Toui 3 well in the third quarter of this year.
Petroceltic CEO John Craven said most of the company's Tunisian prospects were shallow, making them relatively inexpensive to drill and develop.
