Melrose Receives Approval for Two Projects in Egypt

Melrose Resources has been granted approval for two new development leases by the Egyptian Minister of Petroleum covering the three gas field discoveries made earlier this year. The Mansoura Development Lease covers an area of 76.5 km2 and includes the South Batra and Mansouriya discoveries. The South Mansoura Development Lease covers an area of 29.4 square kilometers and includes the South Mansoura discovery. Development of all three of these fields is underway and all three fields are on schedule to be producing by early January 2004.

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