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Winstar plans Ft 528 mln investment at Hungarian unit

Canada's Winstar plans to invest Ft 528 million at its natural gas drilling operations in Hungary in 2006, the company said in its annual report for 2005 published on Thursday.

Winstar acquired one concession and one exploration permit in Hungary after its merger with Dutch peer Athanor in August, 2005. Athanor, in turn, acquired the permits after it bought El Paso Hungary in June, 2005.
Winstar said its holdings in Hungary yielded 214 barrels of oil equivalent per day between the time Athanor acquired El Paso Hungary and the end of 2005.