First Payout by Melrose a Gusher for Adair Family Trust Gains - Pounds4m in 'Watershed Year' for Oil and Gas Company
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Summary
THE family fortune of Robert Adair, chairman of Melrose Resources, got a - pounds4m boost yesterday after the oil and gas company announced a maiden dividend that pushed its shares up by almost 4%.
Adair described 2004 as a "watershed" year for Melrose, with the start of production from its Bulgarian interests and an increase in gas output from Egypt.See the full content of this document
Extract
First Payout by Melrose a Gusher for Adair Family Trust Gains - Pounds4m in 'Watershed Year' for Oil and Gas Company
The company is using the cash flow from production to switch its focus to exploration activities. It has new prospects in both Egypt and Bulgaria and ...
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