Scandoil  

MEO to relinquish rights to certain blocks within the Blackwood Area


Published Feb 10, 2015
MEO - Blackwood Area

MEO Australia Limited elected to withdraw from the Blackwood gas discovery at no cost, transferring that area of NT/P68 to Eni Australia Limited (Eni). MEO will focus its technical efforts on the Heron Area over which it has a 100% Participating Interest (subject to regulatory approvals). Eni will transfer its 50% Participating Interest in the remaining area of the Permit to MEO.

MEO has made this election after assessing that the Blackwood Area 2C Contingent Resource is below the threshold size required to support development of the Tassie Shoal Methanol Project.

In consideration for MEO agreeing to withdraw from the Blackwood discovery, Eni has agreed to take responsibility for, and bear all costs involved in the process of managing the future division of the Permit to facilitate separate ownership of the Blackwood and Heron resources. In the event that regulatory approval to divide the Permit on acceptable terms to Eni is not achieved, the entire Permit, will revert to MEO.

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