MARINE & Mercantile Securities (M & M) has expanded its exploration activities in the Czech Republic and Romania. In the Czech Republic, it has begun work on the testing of four coal bed methane wells drilled in 1994 and 1995. Previous operations had been suspended but were resumed under a joint venture company, Eurogas, which is 50/50 owned by M & M and Energie Kladno.

M & M has also announced that the Romanian government has ratified the exploration and production sharing agreement for Block VI (Moinesti) which was signed with Petrom, the Romanian state owned oil company. Geological and geophysical analysis will start later this year, followed by a seismic survey in 1997.