Vulcan Sub-Basin AC/P50 and AC/P51 Work Program Variation

Source: www.gulfoilandgas.com 4/22/2014, Location: Not categorized

MEO Australia Limited has been advised by the National Offshore Petroleum Titles Administrator (NOPTA) that the Territory of Ashmore and Cartier Islands Offshore Petroleum Joint Authority has approved applications for work program variations for Exploration Permits AC/P50 and AC/P51 in the Vulcan Sub-Basin.

MEO applied for the work program variation to allow additional geotechnical studies to be completed ahead of any requirement to drill a well in each of the permits. The planned studies will focus on reducing the geological risk inherent in the identified prospects, enhancing existing leads and developing new plays ahead of permit renewal in April 2015.

MEO’s CEO and MD Jürgen Hendrich commented on the announcement:
“Approval of these variation requests is welcomed as it provides additional time to refine our technical assessment of the plays within the permit areas.”


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