MEO 0.00% 0.0¢ meo australia limited

Hi dtJust for reference and comparison:The MEO timeline was...

  1. iam
    1,149 Posts.
    lightbulb Created with Sketch. 20
    Hi dt

    Just for reference and comparison:

    The MEO timeline was issued at the time they made us aware of the expected spud date and time in their Artemis-1 progress report No. 3. dated 24 Dec. If there were any changes to this notice we would have been notified.

    Instead CUE confirmed the spud next day whilst using the opportunity to puff out their chest about the commencement of their Carnarvon campaign which is fine for all concerned.

    The A#1 time line is on page 2

    From this we can see that we are now in day 5 of the drilling campaign and should be nearly finished the 17 1/2in hole ready for 13 3/8 in casing and BOP test.

    Of course this will be confirmed in the 4th progress report due 1 Dec. TD is expected day 16-17 at a total depth of ~3500m. With clear weather and no cyclones around there shouldn't be any delays, provided the BOP or any other equipment doesn't fail on the SV.

    As Ya has indicated the first interesting stop off point is the Calypso sands (with an estimated P50 - 6.3Tcf recoverable gas) and then ~200m more to the Legendre sands @ 3275m (P50 - 5.4Tcf recoverable gas).

    Ref: Artemis Overview (7MB)

    It appears that TD is set at 200m lower than the Legendre Sands. They expect to reach TD around 11th Dec. Hopefully we would already have had news about how kind Artemis is going to be to us 5-9th Dec.

    We can compare this with Chevron's drilling of Wheatstone-1 by referring to the DMPWA, 2005 PWA document (6.9mb):

    The table on P.55 lists Wheatstone-1

    From this reference we can see that the spud date was 23 July 2004 reaching TD (3410m) 6 Aug 2004 - 14 days. The Transocean 'SEDCO 703' drilling rig was released 22 Aug 2004.

    A Chevron press release at the time can be found here.

    Their well was P&Ad which is the norm for exploratory wildcat wells. If successful it is then a question whether or not MEO/PBR will opt to run the MDT logging tool.

    MEO do have the rig for 30 days but if towing time is taken into account then this will take us to 14 Dec.

    So the important dates to look out for are 4-10 Dec.

    This is my understanding from available data and I hope it helps.

    #:>))
 
watchlist Created with Sketch. Add MEO (ASX) to my watchlist

Currently unlisted public company.

arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.