MEO Australia LimitedABN 43 066 447 952Tel: (+61 3) 8625...

MEO Australia Limited
ABN 43 066 447 952
Tel: (+61 3) 8625 6000
Level 17 Fax: (+61 3) 9614 0660
500 Collins Street Email: [email protected]
Melbourne Victoria 3000 Australia Website: www.meoaustralia.com.au
ASX & Media Release
Designated Authority grants 5 year renewal of WA-361-P
Key Points:
Permit renewed for additional five years from 31st January 2011
MELBOURNE, AUSTRALIA (10th January, 2011)
MEO Australia Limited (ASX: MEO; OTC: MEOAY) has been advised by the Western Australian
Department of Mines and Petroleum as the Delegate of the Designated Authority on behalf of the Western
Australia Offshore Joint Authority, that exploration permit WA-361-P has been granted a five (5) year
renewal term from 31st January 2011, following mandatory relinquishment of seven (7) graticular blocks.
The renewal comprises eight (8) graticular blocks on Rowley Shoals SE50 map sheet (refer location map
below) requiring 150 km2 3D seismic acquisition in the primary term and the drilling of one exploration well
in permit year 4 of the secondary term (refer table below for minimum work requirements).
Location Map Minimum work requirements
Permit
Year
Yr Starts Yr Ends Minimum Work
Requirements
Primary
Term
1 31st Jan 2011 30th Jan 2012 Geotechnical studies
2 31st Jan 2012 30th Jan 2013 150km2 new 3D seismic survey
Geotechnical studies
3 31st Jan 2013 30th Jan 2014 3D seismic interpretation
Geotechnical studies
Secondary
Term
4 31st Jan 2014 30th Jan 2015 One (1) exploration well
Geotechnical studies
5 31st Jan 2015 30th Jan 2016 Geotechnical studies
WA-361-P Participants Equity
North West Shelf Exploration Pty Ltd (MEO subsidiary) 50%*
Mineralogy Pty Ltd 35%
Cue Energy Resources Limited (ASX: CUE) 15%
*MEO Australia Limited is Operator for the Joint Venture
J?rgen Hendrich
Managing Director & Chief Executive Officer