Bond Offering Update

RNS Number:9099G
Melrose Resources PLC
02 November 2007


FOR IMMEDIATE RELEASE                                            2 November 2007

                             MELROSE RESOURCES PLC
                          ("Melrose" or "the Company")
                             
                              Bond offering update
                                        
On 18 October 2007 Melrose Resources plc (LSE: MRS), the oil and gas
exploration, development and production company, announced that it intended to
make an offering (the "Offering") to institutional investors of approximately
Euro250 million Senior Subordinated Notes ("the Notes").

To facilitate the process Melrose completed a rating exercise and was rated B2
by Moody's and B- by Standard & Poor's. However, recent market conditions for
the Offering have not been optimal and in light of the impact of this on the
expected interest rate, the Offering has been postponed.

Commenting on the above, David Thomas, Chief Executive, said:

"The bond issue was driven by a desire to consolidate Melrose's long term
financial arrangements and, since our current financial position is strong, it
would not make sense for us to issue the Notes under current market conditions.
We will proceed with the Company's active exploration and development program
using our existing financing facilities, which are more than adequate to cover
our investment requirements."

For further information please visit www.melroseresources.com or contact:

Melrose Resources plc                                    0131 221 3360
David Thomas, Chief Executive
Robert Adair, Executive Chairman
Munro Sutherland, Finance Director

Buchanan Communications                                  0207 466 5000
Tim Thompson
Ben Willey




                      This information is provided by RNS
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