MEO Australia Limited advises that Blackwood-2 will be the next well to be drilled by the ENSCO 104 drilling rig following completion of its current activities. The Ensco 104 is currently on location in an adjacent permit. MEO anticipates Blackwood-2 will commence drilling during the first half of November and will advise when the rig has been handed over to the NT/P68 Joint Venture.
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:
'The drilling of the Blackwood-2 appraisal well forms a key component of better understanding the Blackwood resource size and the potential for a commercial development.'