MEO Australia Limited (ASX:MEO) Seruway PSC - Gurame SE-1XST Progress Report No. 9

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Melbourne, Australia, Nov 5, 2012 - (ABN Newswire) - MEO Australia Limited (ASX:MEO.AX - News) (OTCQX:MEOAY - News) advises the following update in relation to the Gurame SE-1X well being drilled offshore North Sumatra in the Seruway PSC using the Hercules #208 drilling rig.

Since the last report, 95/8" casing has been run and cemented to 2,677mMDRT. After pressure testing of Blow-out Preventers and the 95/8" casing, 8½" hole was drilled to 2,794mMDRT. Mudlog gas shows were observed to increase over the interval from 2,776mMDRT to 2,794mMDRT in the Baong sands.

In response to these gas shows, a 30m full-hole conventional core has been planned from 2,794mMDRT. At 2400 hours (Jakarta time) on 4th November operations were in progress to commence coring.

Progress Summary

Progress since last report: - Ran and cemented 95/8" casing to 2,677mMDRT
- Drilled 8½" hole to 2,794mMDRT Present Operation (at 2400hrs Jakarta time, 4th November)
- Preparing to cut 30m core from 2,794mMDRT Outlook:
- Complete coring and drill 8½" hole to base of Baong sands

An overview of Gurame is provided with a detailed technical supplement in the following link:
http://media.abnnewswire.net/media/en/docs/ASX-MEO-381820.pdf


About MEO Australia Limited:

MEO Australia Ltd (ASX:MEO.AX - News) (OTCQX:MEOAY - News) is an ASX listed, independent oil and gas company focused on building a substantial Australian and international E&P business servicing the rapidly growing Asian energy markets.

The Company has assembled a portfolio of exploration, appraisal and development stage opportunities on the NW Shelf, the Ashmore Cartier and the Timor Sea regions in Australia, offshore North Sumatra, and on Madura Island, East Java in Indonesia and the Gulf of Thailand.

MEO has also attracted a high calibre Board of Directors and proven Executive, Technical and Commercial talent with a demonstrated track record of attracting and partnering with globally recognised industry participants.

MEO Australia is listed on the Australian Stock Exchange (ASX: MEO, OTC: MEOAY) and is headquartered in Melbourne, Australia.


Contact:

 
MEO Australia Limited
T: +61-3-8625-6000
F: +61-3-9614-0660
E: admin@meoaustralia.com.au
WWW: www.meoaustralia.com.au
 

Source:

MEO Australia Limited

Copyright (C) 2012 ABN Newswire. All rights reserved.

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