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Melrose Resources reports new discovery in Egypt

05 February 2010

Oil and gas exploration and production group Melrose Resources has reported a new exploration discovery on its 100%-held South East Mansoura concession in Egypt.

The company also announced that a 2D seismic survey was underway on its 40%-held Mesaha exploration concession in southern Egypt ahead of plans to drill a well there in the fourth quarter of 2010.

At the South East Mansoura concession, the South Damas No.1 exploration well was successfully drilled to test a prospect in the Sidi Salim formation. The well encountered the top reservoir at a depth of 4345 feet and penetrated 76 feet of net gas pay with good reservoir properties.

The preliminary estimate of the discovered reserves is 30 billion cubic feet equivalent (Bcfe), which is in line with the pre-drill analysis. The well will now be completed and tied-back for production to existing facilities and is expected to be on stream within six months at an initial rate of in excess of 12 million cubic feet equivalent per day.

Once the latest discovery well is completed, the EDC-9 rig will be used to drill another Sidi Salim prospect in the South East Mansoura concession called Tall Rak. This prospect is on trend with a number of other discoveries, including the Tamad field, and has mean unrisked reserves of 190 Bcfe and a chance of success of 34%.

Elsewhere, the new 2D seismic shoot at the 57,000 sq km Mesaha exploration concession is on the look-out for a large untested sedimentary basin. The objective of the seismic survey is to confirm the basin architecture and depth ahead of possible drilling later in the year.






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