meo news update #1

MEO hoping for a hit with Ramble On

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04 October 2013 00:00 GMT
MEO Australia holds high hopes for the Ramble On oil prospect in the Ashmore-Cartier area of the Timor Sea.

The company carried out a 3D seismic survey last year in Blocks AC/P50 and AC/P51 using the vessel Veritas Viking II.

It dubbed the survey Zeppelin, after the legendary rock group Led Zeppelin.

MEO commercial manager Robert Gard says “it seemed to be a somewhat logical exension on the theme” to name prospects after some of the band’s most famous songs. The best prospect to be identified was Ramble On, which contains mean prospective resources of 56 million barrels of oil, and is near to the Montara oilfield.

Ramble On sits in Block AC/P51 and MEO targeting the proven Plover and Montara reservoirs.

Water depths are 68 metres, and drilling is due before April 2015, and MEO is seeking a farm-in partner.

MEO has also defined other prospects in and around the Zeppelin survey area, including Jur’maker, Stairway and Kashmir.