ASX & Media Release Artemis-1 Progress Report No. 5 Key Points: Artemis-1 has been drilled to 2,936m An over-pressured gas zone encountered above the primary objective Well is presently circulating 11.0ppg mud to enable resumption of drilling operations MELBOURNE, AUSTRALIA (6th December, 2010) MEO Australia Limited (ASX: MEO; OTC: MEOAY) advises that since the last progress report, the BOP?s have been run and tested. The 12-?? hole commenced drilling at 21:30 hrs (Perth time) on Friday 3rd December and has been drilled to a depth of 2,936m. The well was shut in at 18:00 hrs on Sunday 5th December after encountering an over-pressured gas zone above the primary objective. Present activity is circulating 11.0ppg mud to enable resumption of drilling operations including running the contingent 9-5/8? casing string before drilling ahead to the primary objective. WA-360-P Participants Equity Petrobras International Braspetro PIB BV (a wholly owned subsidiary of Petrobras) 50% North West Shelf Exploration Pty Ltd (wholly owned MEO subsidiary) 25% Cue Energy Resources Limited (ASX: CUE) 15% Rankin Trend Pty Ltd a wholly owned subsidiary of Moby Oil & Gas (ASX: MOG) 10% *MEO Australia Limited is Operator for the Joint Venture J?rgen Hendrich Managing Director & Chief Executive Officer
MEO Price at posting:
43.0¢ Sentiment: Hold Disclosure: Held
