Ensco 104 Completes Assignment at Blackwood-2 Well in Timor Sea

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MEO Australia Limited, an independent oil and gas company, provided the final update Monday in relation to Blackwood-2 in Permit NT/P68 in the Timor Sea, Australia being drilled in NT/P68, operated by Eni Australia Ltd (Eni).

Since the last report, in accordance with pre-drilling plans, the well was plugged and abandoned following conclusion of production testing. The jackup Ensco 104 (400' ILC) was released from the drilling location at 14:45 hrs (local time) Jan. 3.

The drilling of Blackwood-2 was an obligation under the NT/P68 Farm-in Agreement (FIA) dated May 17, 2011 between Eni and MEO. Under the FIA and subsequent amendment, MEO’s 50 percent participating interest share of the well costs were fully carried.

MEO’s CEO and MD Jurgen Hendrich commented on the announcement:

“We acknowledge the safe manner in which Eni has conducted the drilling operations and that every effort has been made to ensure the objectives of the well have been met.

Our focus will move to integrating the well results to better understand the implications for resource size estimates.”

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