ASX & MEDIA RELEASE MEO receives final regulatory approval for Petrobras farmin to WA-360-P Key Points: ?h Final Australian regulatory approval received for Petrobras Farmin to WA-360-P Petrobras now registered on WA-360-P title and is a Joint Venture participant Songa Venus on track to commence drilling Artemis-1 in November 2010 MELBOURNE, AUSTRALIA (15th September, 2010) MEO Australia Limited (ASX: MEO) is pleased to advise that the Designated Authority has approved and registered the dealing in relation to the acquisition by Petrobras of a 50% interest in exploration permit WA-360-P from MEO. All conditions precedent in relation to this transaction have now been fulfilled. With this approval, Petrobras is now registered on title in WA-360-P and has become a participant in the Joint Venture. In accordance with the WA-360-P Farmin Agreement, MEO will now invoice Petrobras for the seismic related back costs (~US$7.5 million) together with the 1st cash bonus (US$31.5 million). The handover of the Songa Venus drilling rig from Shell, the current rig operator, to undertake the drilling of the Artemis-1 well in WA-360-P, remains on track for early November 2010.
