MEO Australia Limited provides the following update in relation to its technical assessment of the prospective resources identified on the major Ibu Horst prospects and the discovered gas resource volumes associated with the Kuala Langsa gas discovery within the Seruway PSC, offshore North Sumatra Ibu Horst 3D area MEO has integrated the results of the 701 km2 Ibu Horst 3D seismic survey acquired in early 2012, with data from the ONS B-1 (1969), NSO-2N (1975) and Salem-1 (1983) discovery wells on the Ibu Horst. Two significant areas of prospectivity were identified: the Juaro complex and the Ibu Alpha prospect.

The 1969 ONS B-1 well produced 12.5 mmcf/d gas on test and also recovered 37'o API oil. The Juaro complex consists of a number of discrete down-dip extensions of the reservoir intersected by ONS B-1. In aggregate, these are assessed to contain a mean recoverable prospective resource in excess of 290 million barrels of oil, predominantly within high quality reservoirs. The largest of these accumulations is assessed to contain 230 million barrels of oil, with an aggregate 63 million barrels of mean prospective resources within a cluster of subordinate features.

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