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Melbourne, Oct 22, 2012 (ABN Newswire) - MEO Australia Limited (
ASX:MEO) (OTCQX:MEOAY) provides the following update in relation to Heron South-1 being drilled in NT/P68, operated by Eni Australia Ltd.
Since the last report, 216mm (8 1/2") hole had been drilled from 4,358.6m to 4,454mMDRT (metres Measured Depth below Rotary Table) which the operator has determined to be Total Depth (TD). A comprehensive formation evaluation program has commenced. If warranted, a production test will be run to determine reservoir productivity. There have been no reportable incidents.
Progress Summary
Progress since last report:
- Drilled 216mm (8 1/2") hole from 4,358.6mMDRT to 4,454mMDRT (TD)
- Commenced formation evaluation program
Present Operation:
- Continue with formation evaluation program
Outlook:
- Complete comprehensive formation evaluation program and production test well if warranted
The key objectives of the well are to determine the productivity of the Elang-Plover reservoir and the gas composition.
An overview of the NT/P68 permit including location map and simplified Heron structural cross section are attached for reference.
MEO's CEO and MD Jürgen Hendrich commented on the announcement:
"We eagerly await the results of the formation evaluation."
To view the full release, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-MEO-380792.pdf
ASX:MEO) (OTCQX:MEOAY) provides the following update in relation to Heron South-1 being drilled in NT/P68, operated by Eni Australia Ltd.Since the last report, 216mm (8 1/2") hole had been drilled from 4,358.6m to 4,454mMDRT (metres Measured Depth below Rotary Table) which the operator has determined to be Total Depth (TD). A comprehensive formation evaluation program has commenced. If warranted, a production test will be run to determine reservoir productivity. There have been no reportable incidents.
Progress Summary
Progress since last report:
- Drilled 216mm (8 1/2") hole from 4,358.6mMDRT to 4,454mMDRT (TD)
- Commenced formation evaluation program
Present Operation:
- Continue with formation evaluation program
Outlook:
- Complete comprehensive formation evaluation program and production test well if warranted
The key objectives of the well are to determine the productivity of the Elang-Plover reservoir and the gas composition.
An overview of the NT/P68 permit including location map and simplified Heron structural cross section are attached for reference.
MEO's CEO and MD Jürgen Hendrich commented on the announcement:
"We eagerly await the results of the formation evaluation."
To view the full release, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-MEO-380792.pdf
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About MEO Australia Limited
MEO Australia Ltd (ASX:MEO) (OTCQX:MEOAY) is an ASX listed, independent oil and gas company focused on building a substantial Australian and international E&P business servicing the rapidly growing Asian energy markets.
The Company has assembled a portfolio of exploration, appraisal and development stage opportunities on the NW Shelf, the Ashmore Cartier and the Timor Sea regions in Australia, offshore North Sumatra, and on Madura Island, East Java in Indonesia and the Gulf of Thailand.
MEO has also attracted a high calibre Board of Directors and proven Executive, Technical and Commercial talent with a demonstrated track record of attracting and partnering with globally recognised industry participants.
MEO Australia is listed on the Australian Stock Exchange (ASX: MEO, OTC: MEOAY) and is headquartered in Melbourne, Australia.
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