ASX & Media ReleaseArtemis-1 Progress Report No. 8Key Points:...

ASX & Media Release
Artemis-1 Progress Report No. 8
Key Points: Plugging and abandonment operations continue De-manned rig for Tropical Low on Tuesday 14th, re-manned on Friday 17th Rig expected to be released over the weekend
MELBOURNE, AUSTRALIA (22nd December, 2010)
MEO Australia Limited (ASX: MEO; OTC: MEOAY) advises that since the last progress report, final logs were acquired and abandonment operations commenced. The proximity of a Tropical Low, with the potential to develop into a cyclone, necessitated the de-manning of all personnel from the rig starting on Tuesday 14th December. Re-manning of the rig commenced on Friday 17th December and abandonment operations were re-started on Sunday 19th December.
Abandonment operations are continuing and the rig is expected to be released over the coming weekend.
WA-360-P Participants
Equity
Petrobras International Braspetro PIB BV (a wholly owned subsidiary of Petrobras)
50%
North West Shelf Exploration Pty Ltd (wholly owned MEO subsidiary)
25%*
Cue Energy Resources Limited (ASX: CUE)
15%
Rankin Trend Pty Ltd a wholly owned subsidiary of Moby Oil & Gas (ASX: MOG)
10%
*MEO Australia Limited is Operator for the Joint Venture
Jrgen Hendrich
Managing Director & Chief Executive Officer