July 19 (Reuters) - Byron Energy Ltd BYE.AX :
* CO ENTERED INTO AGREEMENT WITH BYRON ENERGY TO FARM-IN TO SOUTH MARSH ISLAND PROJECT IN GULF OF MEXICO
* INITIAL TEST WELL DRILLING COSTS FOR SM-74 PROJECT ARE ESTIMATED AT US$11 MILLION, OF WHICH CO EXPENDITURE IS BUDGETED AT US$4.4 MILLION