A new address with cheaper rent and a paid HC ad, MEO have been...

A new address with cheaper rent and a paid HC ad, MEO have been busy today:

Unlocking the potential of MEO's World Class Oil and Gas Portfolio

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MEO holds one of the hottest portfolios in the ASX oil and gas sector with world class projects in Cuba, where MEO has a significant early mover advantage, as well as Australia/NZ. An aggressive program is currently underway focussed on unlocking MEO's huge potential. MEO is now positioned at the forefront of the emerging upstream oil and gas sector in Cuba at a time when Cuba’s political relationship with the US and the ‘the West’ is the best it has been in generations. Block 9 in Cuba gives MEO shareholders exposure to a proven oil and gas province with low costs and extremely high impact exploration upside. The company’s recently announced technical review of the Block indicates an initial 8 billion barrels oil-in-place with further upside anticipated. Nearly 400 million barrels recoverable Prospective Resource on an unrisked 100% share basis wait to be drilled. MEO also has 100% of the Beehive prospect, one of the largest undrilled oil and gas prospects in the Australia, located in the shallow water Bonaparte Gulf. Recent seismic reprocessing by MEO has made this prospect clearer for all to see and a farmout is currently in progress. MEO has an active program over the coming months. In New Zealand a well is being considered for late 2017 where the impact of success could see a significant enhancement to MEO’s current value. In Cuba MEO will be upgrading its assessment of resource potential before the end of 2016 and accelerating the preparation of a drilling plan in early 2017, with drilling potentially 12 months from then. In Australia, the Beehive prospect is currently being farmed out which may facilitate drilling in late 2017/18. MEO Australia is well capitalized, with around $5m in cash following the recent completion of a successful placement which received overwhelming support from existing and new investors.