MEO Australia Provides Artemis-1 Progress Report

MEO Australia Limited  advises that since the last progress report, Artemis-1 spudded at 00:45 hrs (Perth time) on Thursday 25th November.

The 30” x 20” surface conductor was set in place and the 17-1/2” hole was drilled to 1,870m (below rotary table) at which depth the 13-3/8” intermediate casing has been run to a depth of 1,860m and successfully cemented in place.

Present operations include installing the Blow-Out-Preventer (BOP) and the marine riser followed by pressure testing all equipment prior to drilling the 12-1/4” hole.

It is anticipated that the 12-1/4” hole is likely to commence drilling on Friday 3rd December. The programmed drilling time to reach the top of the Calypso reservoir is approximately 2.5 days from commencement of drilling the 12-1/4” hole. In the event that gas shows are evident in the primary objective, a coring program is planned.

The next ASX release is planned for no later than Wednesday 8th December.

[mappress]

Source: MEO Australia  ,December  1, 2010;

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