MEO Australia: Rig Arrives at Blackwood Location

MEO Australia: Rig Arrives at Blackwood Location

MEO Australia advises that the Ensco 104 jack up drilling rig was handed over to the NT/P68 Joint Venture on 26th October and arrived on location on 27th October.

The drilling program is expected to take around 65 days. Blackwood-2 is expected to spud within the next few days and is planned to be drilled to a depth of 3,360mRT. The appraisal well is approximately 8km from the Blackwood-1 discovery well and will provide a greater understanding of the distribution of reservoir properties, clarify the position of the Gas-Water-Contact and provide an indication of productivity.

The drilling of Blackwood-2 is an obligation under the NT/P68 Farm-in Agreement (FIA) dated 17th May 2011 between Eni Australia Limited (Eni) and MEO. Under the FIA and subsequent amendment, MEO’s 50% participating interest share of the costs of the well will be carried.

MEO’s CEO and MD Jürgen Hendrich commented on the announcement: “We have eagerly been awaiting the drilling of the Blackwood-2 appraisal well. The results will help  us to gain a better understanding of the resource size and the potential for the resource to underpin or complement a commercial development.”

Press Release, October 28, 2013