Accoring to information on MEO's website the most significant potential lies in WA-361-P, immediately northeast of the Perseus Gas Field and on the northern flank of the Goodwyn Gasfield where a thick sequence of interpreted Legendre shoreface and shallow marine sandstones is present in the Keast Graben. A potential stratigraphic trap, Zeus, has been identified, which is a similar play and analogous to the Perseus Gas Field (12 Tcf) and the new Woodside Persephone-1 discovery on the eastern flank of the North Rankin Gasfield.
I guess Woodside is already their and it seems to make sense that MEO and Woodside could do something together. At least this explains why Woodside would be interested in what MEO has.
mmmmm - the plot thickens.
MEO Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held