MEO Australia Limited disclosed Tuesday that it has been notified by the National Offshore Petroleum Titles Administrator of the approval of its application to vary the Permit work program for AC/P53 in the Ashmore Cartier region (Vulcan sub-basin) of the Timor Sea, offshore Australia by advancing geotechnical studies from Permit Year 6 to Permit Year 5 and deferring an exploration well commitment from Permit Year 5 to Permit Year 6. The details of the revised AC/P53 Work Program are listed below.
Revised AC/P53 Work Program (100 Percent MEO)
MEO’s MD & CEO Peter Stickland commented on the announcement:
“The variation of the remaining work program will allow the undertaking of additional geotechnical studies with the goal of identifying a potentially drillable prospect in the hydrocarbon rich Vulcan sub-basin within which MEO has a substantial acreage footprint.”
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