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Article: Melrose Resources lifts target.
- Article from:
- Investors Chronicle - magazine and web content
- Article date:
- August 26, 2009
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Byline: Martin Li
TIP UPDATE: Melrose Resources raises full-year production target as fields outperform
Melrose Resources has raised its full-year 2009 production target from 34,000 barrels of oil equivalent per day (boepd) to 37,500 boepd on a working interest (pre-government share) basis. This reflects two material fields in Egypt coming onstream three months ahead of schedule - and outperforming.
Melrose has also enjoyed success with the drill bit, including two exploration discoveries in Egypt. In Bulgaria, appraisal drilling has confirmed around 100bn cubic feet of gas ...