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STOCKS FOCUS: MELROSE RESOURCES
0 Comments | Sunday Herald, The, May 18, 2008
DESPITE making a pre-tax loss of dollars55 million (GBP27.3m) in 2007, Melrose Resources, the Edinburgh-based oil and gas exploration, development and production company, saw boardroom salaries soar to GBP1.7m compared with GBP1.148m in 2006. Earlier this month the company said it had abandoned its Obzor No.1 offshore exploration well in Bulgaria after disappointing tests, indicating that it would now concentrate its drilling programme in Egypt and North America.
The group also has exploration interests in France.
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