Melrose Resources meets 2009 production expectations

Melrose Resources stated today that it met its production expectations for 2009, driven by the successful fast-track expansion of recent Egyptian discoveries.

The oil and gas explorer company recorded a rise of 8.6% in annual production rate to 38.

6 thousand barrels of oil, condensate or natural gas liquids equivalent per day, as compared to 2008, reported Reuters.

Melrose, which acquired five new Egyptian fields on stream during 2009, said it planned to drill an exploration well in the fourth quarter of 2010 at its Mesaha block in Egypt.

Total proved and probable reserves as of 31 December were 68.5MMboe on a net entitlement basis, the company said in a statement


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