MEO Australia Limited (ASX:MEO) Gulf of Thailand - Sainampueng-1 Progress Report No. 3

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Melbourne, Australia, Dec 13, 2012 - (ABN Newswire) - MEO Australia Limited (ASX:MEO.AX - News) (OTCQX:MEOAY - News) provides the following update in relation to Sainampueng-1 drilled in the Gulf of Thailand G2/48 Concession by Pearl Oil Offshore Limited (an affiliate of Mubadala Petroleum).

Since the last report operations to plug and abandon the well have been completed and the rig was released from the drilling location at 19:00hrs on 9th December.

Well operations were completed safely and with no reportable incidents.

A comprehensive evaluation of Sainampueng-1 will be undertaken to understand the implications for the prospectivity of the basin. This will include studying a ~60m thick shale section where gas shows were observed which may indicate source rock.


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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