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MELROSE RESOURCES (MRS).

Publication: Investors Chronicle
Publication Date: 12-JAN-07 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
Oil & gas explorer - 396p - Melrose Resources starts drilling this month on a portfolio of three gas prospects in the Bulgarian part of the Black Sea, which could deliver two trillion cubic feet (tcf) of fresh reserves. Melrose hopes that the largest target, Ropotamo, could deliver 1.4tcf alone. So City analysts think Ropotamo could be worth up to GBP10 a share with, currently, a 15 per cent chance of success. In other words, it should be worth 150p a share today. The other prospects, which will be drilled first, are less risky - with, say, a 25 per...

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