Gulf Oil and Gas accountACCOUNT

MEO & Eni Agree to Extend Date of Second Heron Well

Source: www.gulfoilandgas.com 3/25/2013, Location: Not categorized

MEO Australia has executed binding amendments to the NT/P68 Farm-in Agreement (FIA) dated 17th May 2011 to extend the second Heron well notice date to 18th December 2013. This extension allows additional studies to be undertaken, the costs of which will be borne byEni. The deadline for completion of the second well in the event Eni elects to drill the well, remains unchanged at 12th February 2016. Under the terms of the FIA, Eni had the option to acquire an additional 25% interest in the permit by funding MEO’s share of the work programme required to reach a Final Investment Decision (FID) in either Heron and/orBlackwood. The amendments to the FIA have split this option into separate elections allowing the additional 25% equity to be elected independently in the Heron and Blackwood areas.

MEO’s CEO and MD Jürgen Hendrich, commented on the announcement: 'Heron South-1 intersected two significant gas bearing intervals but flowed gas to surface at rates too small to measure accurately. This time extension allows technical studies to be undertaken to better understand the causes of and distribution of reservoir productivity and determine whether sweet spots can be expected at Heron and where these have the highest probability of occurrence.'

Exploration News in Australia >>

Canada >>  6/4/2020 - The Government of Canada is committed to ensuring that projects are assessed in a manner that maintains high standards of environmental protection. Th...
United Kingdom >>  6/4/2020 - Cluff Natural Resources Plc, the AIM quoted natural resources investing company with a high impact exploration and appraisal portfolio focused on the ...

China >>  6/3/2020 - Empyrean Energy (Empyrean), the oil and gas exploration and development company with interests in China, Indonesia and the United States, provides the...
Angola >>  6/1/2020 - The Angola National Agency of Oil, Gas, and Biofuels (ANPG), as the national concessionaire for the exploration and production (E&P) of liquid and gas...

Nigeria >>  6/1/2020 - Nigeria's Department of Petroleum Resources (DPR) has announced the commencement of the 2020 Marginal Field Bid Round. The bid round is open to indige...
Australia >>  5/29/2020 - Melbana Energy Limited has been advised by the National Offshore Petroleum Titles Administrator that its application for a 12 month suspension of the ...

Related Categories: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  Food Supplies  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Skilled Labors  Transportation, 4X4 Trucks  Unskilled Labors  Utility Systems  Waste Disposal  Water Supply Services  Welding Products/Services 

Related Articles: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Skilled Labors  Transportation, 4X4 Trucks  Utility Systems  Water Supply Services  Welding Products/Services 


Australia Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 |

Oil & Gas Projects in Australia >>

More News

Related Links

Gulf Oil and Gas
Copyright © 2020 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.