MEO changes work terms offshore Australia

MEO Australia (ASX: MEO; OTCQX: MEOAY) has regulatory approval to alter work programs on the AC/P50 and AC/P51 permits offshore northwest Australia.

Offshore staff

MELBOURNE, Australia – MEO Australia (ASX: MEO; OTCQX: MEOAY) has regulatory approval to alter work programs on the AC/P50 and AC/P51 permits offshore northwest Australia.

The company is the sole concession holder in both permits.

For AC/P50, the discretionary well obligation has now been transferred into the final permit year starting April 21, 2014.

As for AC/P51, the previous commitment to 2D seismic acquisition has been replaced by 174 sq km (67 sq mi) of multi-azimuth 3D seismic processing.

4/30/2013

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