MEO Gets OK to Push Back Plans on 2 W. Australian Permits

MEO Australia advised that the designated authority has approved MEO's application for a variation in the secondary work programs in relation to the WA-359-P and WA-360-P exploration permits in the Carnarvon Basin offshore Western Australia.


The work program on WA-359-P has been varied such that the exploration well has been transfeered from permit year five to permit year six, spanning Feb. 1, 2010 - Jan. 31, 2011. Now, permit year five will have the minimum work requirement of geotechnical studies, and permit year six requires at least one exploration well.

North West Shelf Exploration, which is a wholly owned subsidiary of MEO Australia, is the operator of the permit. Partners include Cue Energy and Exoil Limited.


The work program on WA-360-P has been revised to reflect that permit year four has been suspended at Jan. 31, 2009, and extended by 12 months to Jan. 31, 2010. This allows time for MEO to acquire, process and interpret additional 3D seismic to further define the Artemis prospect. Now, from Feb. 1, 2008 to Jan. 31, 2010, the minimum work requirement on the permit is seismic interpretation. Year five of the permit now stretches ffrom Feb. 1, 2010 to Jan. 31, 2011, and partners on the permit must perform geotechnical studies then. One exploration well is required to be drilled between Feb. 1, 2011 and Jan. 31, 2012.

North West Shelf Exploration is the operator on this permit. Parnters include Cue Energy and Gascorp Australia.