MEO completes Artemis 3D seismic survey preliminary interpretation

MEO Australia has completed preliminary interpretation of the newly acquired and processed Artemis 3D seismic survey taken in WA-360-P in the Carnarvon basin.

Offshore staff

MELBOURNE, Australia -- MEO Australia has completed preliminary interpretation of the newly acquired and processed Artemis 3D seismic survey taken in WA-360-P in the Carnarvon basin.

The 250-sq-km (97-sq-mi) seismic survey was acquired in March to help delineate the northern extent of the Artemis prospect, which was identified on MEO’s existing 2007 3D seismic survey. The company is scheduled to drill an exploration well in the area in 2010.

The new 3D data has:
- Validated the seismic velocities that were previously modeled from vintage 2D data.
- Shown that the Artemis prospect is a structural high.
- Extended the northern boundary of the prospect and increased the size of the Artemis structural trap.
- Confirmed the existence of seismic amplitudes exhibiting down-dip terminations, consistent with a possible gas-water-contact.

New bio-stratigraphic data obtained from the Zeus-1 well drilled in the adjacent WA-361-P permit suggests the presence of higher quality Calypso Formation reservoir sands overlying the already identified Legendre Formation in the northern region of the prospect. This new information, coupled with the larger structural trap will likely lead to an increase in pre-drill volumes from the previously advised estimate of 9.5 tcf gas-in-place within the license area, the company says.

The prospect further enhanced by its strategic location relative to the established North West Shelf LNG project, the Pluto LNG project, and the proposed Wheatstone LNG project, the company says.

07/15/2009

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