The Board of Directors approves the quarterly report at 31st March 2004

At a consolidated level, the Production Revenues are €12.8 million, the Gross Operating Result is €1.5 million (12% of the Production Revenues) and a Profit before taxation and minority interests of €717 thousand.

The Net Consolidated Financial Position, in credit by €18.6 million, shows a 31% increase compared to 31^st December 2003.