UPDATE 1-Melrose Resources to raise 11.2 mln stg via placing

* Says plans to place 4.5 mln shares at 250p each

* Price represents 9 pct discount to stock's Monday close * Proceeds to be used for drilling programmes * Plans to invest about $165 million in core assets in '09

* Shares down 1 pct (Adds details)

July 14 (Reuters) - British oil and gas firm Melrose Resources Plc (MRS.L) said it planned to raise 11.2 million pounds ($18.3 million) before expenses through a share placing to fund its key drilling programmes.

The company planned to issue about 4.5 million new shares at 250 pence each, a discount of 9 percent to the stock's Monday closing price of 274 pence.

Melrose Resources said the proceeds would be used to accelerate the drilling of the Kaliakra appraisal well in Bulgaria and its Egyptian field development programme.

It would also provide additional capital headroom while the company completed talks with its banking syndicate regarding a potential expansion of its existing long-term debt facilities, the company said.

Melrose Resources said it planned to invest about $165 million of capital in its core area assets during 2009.

"The board believes that an equity placing at this time will provide the company with increased flexibility to continue with its key developments whilst maintaining the ability to pursue selective exploration and appraisal projects," the company said in a statement.

Melrose Resources shares were down 1 percent at 270 pence at 1013 GMT on the London Stock Exchange.

($1=.6133 Pound) (Reporting by Tresa Sherin Morera in Bangalore; Editing by Anne Pallivathuckal)