Gulf of Thailand G2/48 Drilling Update
Melbourne, Nov 23, 2012 AEST (ABN Newswire) - MEO Australia Limited (
ASX:MEO) (OTCQX:MEOAY) advises that Pearl Oil Offshore Limited (an affiliate of Mubadala Petroleum) has completed drilling of Anchan-1 in the Gulf of Thailand G2/48 Concession and is preparing to commence drilling Sainampueng-1.
Anchan-1 spudded at 23:00hrs (local time) on 15th November and reached a Total Depth of 1678mMDRT* on 21st November without encountering any significant hydrocarbons. The well is now being plugged back to the 13 3/8" casing shoe.
Anchan-1 fulfilled the Permit Year 5 obligation and was drilled by Pearl Oil at its sole expense.
Once Anchan-1 is plugged back, Sainampueng-1 will commence drilling from the existing 13 3/8" surface casing to test a 10 - 25 MMstb (mean to P10 prospective resources) 3 way dip closure against the basin margin fault. The well will fulfil the Permit Year 6 obligation.
In the event Sainampueng-1 is successful, the basin is currently assessed to contain 23 prospects and leads in multiple play types with a cumulative un-risked mean potential exceeding 100 MMstb.
MEO's CEO and MD Jürgen Hendrich commented on the announcement:
"We are pleased Anchan-1 was drilled without incident and now keenly anticipate the commencement of Sainampueng-1 drilling."
* mMDRT = measured depth below rotary table
Contact
MEO Australia Limited
T: +61-3-8625-6000
F: +61-3-9614-0660
E: admin@meoaustralia.com.au
WWW: www.meoaustralia.com.au
| ||
|
