Oil producers Nostra Terra and Independent Resources said they are on track to start receiving a revenue share from the recently acquired stake in the East Ghazalat operation in Egypt. Their jointly owned vehicle, Independent Resources Egypt Limited, has now been formally registered with EGPC and completed its security clearances. “IRE has now put in place paperwork for the next steps, which include Commercial Registration and the receipt of an Egyptian Tax Card. These steps will allow the venture to receive accrued revenues from July 1 2015, which is the effective date of the transaction.” Independent Resources and Nostra Terra had reached an agreement to acquire 50% of the East Ghazalat concession from TransGlobe Energy in late 2015.