News

November 25, 2009

Interim Management Statement From Melrose Resources Ups The Production Guidance Figure for 2009

One thing you can say about main board LSE-listed Melrose Resources, which has active assets in Egypt, Bulgaria, the US and, potentially, Romania, is that it sure does believe in news flow. Not two weeks after it issued an operations update, it has now announced a detailed interim management covering the period July 1 2009 to Septmber 30 2009

You can argue until the cows come home whether some companies flood the market with extraneous news detail and whether this is a good thing or not. At oilbarrel.com we take the view is that it depends on whether a release takes you further and adds to the sum total of human knowledge about the company. In this case we think it does.

The earlier operations update focused on activities in Bulgaria. It was announced in the first week of November that the Bulgarian government has issued a...