MEO Completes Seismic Acquisition in Timor Sea

MEO Australia Limited advised that the S/R Veritas Viking II completed acquisition of the 170 km Zeppelin 2D seismic survey in AC/P53 in the Ashmore Cartier region of the Timor Sea (Vulcan sub-basin) at 21:02 (WST) on January 17, 2012.

This survey included a tie line to the 507 km2 Zeppelin 3D survey over part of AC/P50 and AC/P51 which will commence as soon as the Viking II reconfigures streamers for 3D acquisition.

The combination of long offset 2D seismic in AC/P53 and 3D seismic in AC/P50 and AC/P51 will provide the technical basis for generating targets for consideration as potential future drilling candidates.

AC/P53 was awarded to MEO in July 2011. The Zeppelin 2D seismic survey advances the Permit Year 2 obligation to acquire 150 km long offset 2D seismic into Permit Year 1.