MEO 0.00% 0.0¢ meo australia limited

NEW YORK--(BUSINESS WIRE)--Sept. 4, 2008--Hess Corporation...

  1. 63 Posts.
    NEW YORK--(BUSINESS WIRE)--Sept. 4, 2008--Hess Corporation (NYSE: HES) announced today that the Nimblefoot-1 exploration well on Australia's Northwest Shelf discovered natural gas. The well encountered 93 feet (28 meters) of net gas pay.

    Nimblefoot-1 is the third of four initial exploration wells being drilled on the WA-390-P Permit by Hess in 2008. The previous wells, Glencoe-1 and Briseis-1, were announced as discoveries on June 10, 2008 and July 20, 2008, respectively.

    "The results of this well support our view of the potential of the WA-390-P Permit and will contribute important data as we continue to refine our geological model of the area," said John O'Connor, Hess President of Exploration and Production.

    Nimblefoot-1 was drilled in 3,658 feet (1,115 meters) of water by the semi-submersible rig, Jack Bates. Following the completion of the Nimblefoot-1 well, the Jack Bates rig will move 27 kilometers southeast to drill the Warrior prospect.

    Hess holds a 100 percent interest in the 780,000 acre WA-390-P Permit.
 
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