RNS Number:2798R
Melrose Resources PLC
24 October 2003


FOR IMMEDIATE RELEASE                                            24 October 2003


                             Melrose Resources plc

                           Galata platform float-out


Melrose Resources plc, the oil and gas exploration and production company with
interests in Bulgaria, Egypt and USA, announces that the Galata platform was
floated out of the shipyard in Varna, Bulgaria, following an official ceremony
on 21 October 2003. The platform is now being installed on the Galata Gas Field,
the jacket has been positioned on the seabed and piling has commenced. First
production from the Galata Gas Field is scheduled for January 2004.


The Company also announces today that two new development leases have recently
been approved in Egypt by the 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 km2 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.


Commenting on this, Robert Adair, Chairman, said:


"This is an exciting time for the Company. We are making excellent progress with
the development of the Galata Gas Field and also the three new fields in Egypt
and we expect all of these fields to be on production by the end of January
2004."


For further information please contact

Melrose Resources plc
David Curry, Chief Executive                                     0131 225 6678
Munro Sutherland, Finance Director                               0131 225 6678
Chris Thomas, Corporate Development Director                     0207 462 1600

Buchanan Communications
Tim Thompson/Ben Willey                                          0207 466 5000




Notes to editors


1.  The Galata Gas Field is located 19 km offshore in the Black Sea,
    Bulgaria;
    
2.  The Galata Gas Field contains proved and probable reserves of 80 Bcf
    with a reserve life of 7 years;

3.  Production is scheduled to commence in January 2004 at a peak
    winter-time rate of 53 MMcfpd;

4.  Gas will be delivered to the domestic grid at Provadia via an 85 km
    dedicated pipeline. The gas will be purchased by Bulgargaz, the state owned 
    gas distribution and supply company, under a three year "take-or-pay" 
    contract;

5.  Melrose, through its wholly owned subsidiary Petreco S.a.r.l., has a
    100% working interest in the Galata Gas Field.


                      This information is provided by RNS
            The company news service from the London Stock Exchange

END
MSCNKQKKDBDDPKB