Melbourne, Oct 23, 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 (Eni). Eni has formally advised MEO that it intends to commence production testing to determine reservoir productivity and gas composition.
The well is interpreted to have intersected two gross sandstone intervals of approximately 120m and 115m thickness separated by approximately 130m of shale and silt.
The forward plan is to run a wiper trip to condition the hole prior to running and cementing a 7" liner and proceeding with production testing.
In accordance with pre drilling plans, the well will be plugged and abandoned at the conclusion of production testing.
MEO's CEO and MD Jürgen Hendrich commented on the announcement:
"Heron South-1 has intersected two potential gas bearing zones over a minimum 365m gross interval. We are delighted that Eni has elected to commence production testing to determine the potential of these zones."
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.
ASX:MEO) (
MEO Australia Limited
){kind=link}