Gotta love this:
The WA-360-P exploration permit is strategically located between the existing
North West Shelf gas project to the east and the Pluto and Wheatstone projects
immediately to the south-west. MEO’s East Artemis prospect has been identified
as hosting mean prospective resources of 20.3 Tcf gas-in-place of which 12.0 Tcf
is expected to be recoverable, assuming a 60% recovery factor. This prospectivity
coupled with the strategic location, makes this permit potentially very valuable to
MEO.
The existing and planned LNG infrastructure in the Carnarvon basin requires
additional gas reserves for the projects to reach their full economic potential. All
operators in the basin have committed to substantial exploration programs to
discover additional resources. This province has established infrastructure but is
short of gas – a characteristic which enhances the potential value of MEO’s
acreage.
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