VOL. XXXVII

NO. 35

30-MAY-1994

Bahrain

Clarification On Intoil Results

MEES has received the following comments from Dr. Hassan Fakhro, the Chairmanof Intoil, regarding the MEES coverage of Intoil's 1993 results (MEES, 9 May):

- "Net Profits: A proper comparison on the basis of like to like showsthat the 1993 net profit of the Company before interest payment to shareholdersincreased to $3.43mn, an increase of 27% over 1992, instead of $2.87mn and 7%respectively, as reported in MEES. You will note...