The Australian Securities Exchange has granted a trading halt to MEO Australia Limited after the Company requested a halt in the Company’s securities pending a significant market announcement regarding a farm-in deal for its Carnarvon Permits and Timor Sea permit NT/P68.
According to the Australian Securities Exchange, the Company’s securities will be placed in pre-open until commencement of normal trading on Friday, July 4, 2008, the day on which the Company has proposed to release its announcement to the market.
MEO completed its acquisition of approximately 384 square km of new 3D seismic data over the Greater Blackwood structure, located in permit NT/P68, on May 19, 2008. In October 2007, the Company secured a 60% participating interest in its three Northwest Shelf exploration permits via a seismic acquisition option and assumed the role as Operator.
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