Scandoil  

MEO Australia farm out for 30% of WA-488-P confirmed


Published Mar 18, 2015
MEO Australia Limited-2

MEO Australia Limited says that its wholly owned subsidiary has been formally notified by the international exploration company (the Farminee) that it has received final board approval to proceed with the exercise of its option to farm into WA-488-P.

Subject to final farmin documentation and customary regulatory approvals, the exercise of the option provides the Farminee with a 30% participating interest in the permit with further options (if MEO has not secured alternative funding) to increase their participating interest by an additional 10% in return for procuring full funding of a 3D seismic survey over the Beehive prospect and an additional 40% for procuring full funding of the proposed Beehive-1 well.

Tags: MEO Australia Limited




Advertisment:

Add a Comment to this Article

Please be civil. Job and promotion will not be added into the comment page.

(Use Markdown for formatting.)

This question helps prevent spam:

+ Larger Font | + Smaller Font
Top Stories

 

 

 

 


 


RSS

RSS
Newsletter
Newsletter
Mobile News
Mobile news

Computer
Our news on
your website


Facebook
Facebook
Twitter
Twitter

Contact
Contact
Tips
Do you have any
tips to us
Stats

 

sitemap xml