positive, page-12

Worth going back again to 2007....here is the actual announcement from 2007, which created alot of excitement with investors, when the cap of the company, at the time... was twice what is was today.

If we are to compare with 2007....just 100m until the top of the gas zone last time.

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MELBOURNE, AUSTRALIA (November 23, 2007) -- MEO Australia Limited (ASX: MEO) submits this drilling report for the period ending 1000 hours, November 23, 2007. The Heron-2 well was spudded at 2230 hours (ACST) on October 12, 2007 in Exploration Permit,NT/P68.

The Top Darwin Formation was encountered 62m higher than prognosed (3062m). The well depth is currently 3151m and the rig is tripping out to change a worn bit. MEO expects to start re-drilling the 12¼ inch hole through Facies C of the Epenarra Darwin Formation to a section target depth of 3440m later today.


Elevated gas readings have been recorded in the mud returns through the upper section of the Darwin Formation and mud weights were increased accordingly. While these observations are encouraging, the Company stresses that until the section drilling has been completed, testing undertaken, including analysis of the log data to confirm the development of a fracture system and permeability in the section, and hydrocarbons recovered, MEO is unable to
confirm gas quality or that a recoverable resource is present in the Epenarra structure.