May 7 (Reuters) - Byron Energy Ltd BYE.AX :
* UPDATES ON SM71 PRODUCTION RATES
* GIVEN RECENT RALLY IN OIL, CO INCREASES OIL PRODUCTION AT SM71 PRODUCTION PLATFORM TO ABOUT 2,900 BOPD AND 7.0 MMCFGD
* TO CONTINUE TO MANAGE SM71 PRODUCTION LEVELS ON ONGOING BASIS IN LINE WITH OIL PRICES