cut and paste from NOPSEMA site re Barossa appraisal drill currently being assessed before summary is approved. ConocoPhilips site suggests 3 x drilling campaign could commence as early as April 2013.
Commonwealth waters adjacent to Northern Territory Name Region Location Activity Instrument Bonaparte Basin Barossa Appraisal Drilling Campaign NT Bonaparte Basin Drilling NT/P69
From the Santos website: The Barossa-1 well has been drilled to a total depth of 4,310 metres, with logging and two drill stem tests now completed.
The second test, of a higher-quality reservoir interval, flowed gas at a rate of approximately 30.1 million cubic feet per day through a 56/64 inch choke, with a condensate rate of 7 to 9 barrels per million cubic feet of raw gas as measured at the rigsite. The gas flow rate test was constrained by limitations of the surface equipment.
Test results indicate a carbon dioxide content in the gas of approximately 16%.
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it is all this regional drilling activity will really underpin meo's sp for 2013.
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the advice i have received suggest next quarterly out mid January so much earlier than usual for meo. expect some interesting news.
MEO Price at posting:
7.4¢ Sentiment: LT Buy Disclosure: Held
