MEO Australia Provides Update on Projects in Australia, NZ & Cuba

MEO Australia Ltd. provided an update Monday on the progress and near term plans of the company’s key projects in Australia, New Zealand and Cuba.

The firm has commenced the farm-out process for the Beehive prospect, located in permit WA-488-P offshore Australia, and preliminary discussions are underway with a number of parties. MEO hopes to complete the Behhive farmout process in the fourth quarter of 2016. In the meantime, the firm said reprocessing and inversion studies undertaken by the company support its view that Beehive is one of the largest undrilled hydrocarbon prospects in Australia.

Over in New Zealand, the joint venture of PEP51153 is progressing an assessment of the prospectivity of the exploration permit. The partners will consider in the fourth quarter whether to proceed with drilling a high impact exploration well.

In Cuba's Block 9 Production Sharing Contract (PSC), MEO said its assessment of the resource potential of the remaining two plays, the Upper Sheet and Shallow Tertiary plays, is progressing as planned. The preliminary stage of the assessment should complete in the fourth quarter of 2016. Work has also commenced to accelerate the potential for early drilling in Block 9 based on the significant resource potential identified in the Lower Sheet play. The firm aims to finalize a drilling plan by the first quarter of 2017 for up to 2 wells in Block 9. To support these activities, MEO has opened a representative office in Havana and appointed former Cupet Exploration Director Dr Rafael Tenreyro as its representative in Cuba.

"While MEO has a number of exciting opportunities in its portfolio, Cuba Block 9 is particularly significant for the Company and we are busy working on a number of fronts to accelerate the potential for drilling on Block 9," MEO Managing Director & CEO Peter Stickland said in the press release.

Have a news tip? Share it with Rigzone!


Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies

Our Privacy Pledge

More from this Author
Rigzone Staff
e-mail us at
 -  Sparrows Group Teams in Australia to D... (Mar 28)
 -  INPEX to Reorganize Natural Gas Busine... (Mar 28)
 -  Scottish Offshore Service Provider Pra... (Mar 28)
 -  Canada First Nation Makes History with... (Mar 28)
 -  GLA is 'Single Accumulation', Largest ... (Mar 27)

Most Popular Articles

From the Career Center
Jobs that may interest you
CDL Class A Driver
Expertise: Motorman|Truck / HGV Driver
Location: Midland, TX
Sales Manager - Safety Relief Valves
Expertise: Business Development|Sales
Location: Houston, TX
Rig Mechanic Senior
Expertise: Rig Mechanic|Rig Welder
Location: Beggs, OK
search for more jobs

Brent Crude Oil : $50.75/BBL 0.09%
Light Crude Oil : $47.73/BBL 0.50%
Natural Gas : $3.05/MMBtu 0.97%
Updated in last 24 hours