• 2 days Shell Oil Trading Head Steps Down After 29 Years
  • 2 days Higher Oil Prices Reduce North American Oil Bankruptcies
  • 2 days Statoil To Boost Exploration Drilling Offshore Norway In 2018
  • 2 days $1.6 Billion Canadian-US Hydropower Project Approved
  • 2 days Venezuela Officially In Default
  • 2 days Iran Prepares To Export LNG To Boost Trade Relations
  • 2 days Keystone Pipeline Leaks 5,000 Barrels Into Farmland
  • 2 days Saudi Oil Minister: Markets Will Not Rebalance By March
  • 3 days Obscure Dutch Firm Wins Venezuelan Oil Block As Debt Tensions Mount
  • 3 days Rosneft Announces Completion Of World’s Longest Well
  • 3 days Ecuador Won’t Ask Exemption From OPEC Oil Production Cuts
  • 3 days Norway’s $1 Trillion Wealth Fund Proposes To Ditch Oil Stocks
  • 3 days Ecuador Seeks To Clear Schlumberger Debt By End-November
  • 3 days Santos Admits It Rejected $7.2B Takeover Bid
  • 3 days U.S. Senate Panel Votes To Open Alaskan Refuge To Drilling
  • 4 days Africa’s Richest Woman Fired From Sonangol
  • 4 days Oil And Gas M&A Deal Appetite Highest Since 2013
  • 4 days Russian Hackers Target British Energy Industry
  • 4 days Venezuela Signs $3.15B Debt Restructuring Deal With Russia
  • 4 days DOJ: Protestors Interfering With Pipeline Construction Will Be Prosecuted
  • 4 days Lower Oil Prices Benefit European Refiners
  • 4 days World’s Biggest Private Equity Firm Raises $1 Billion To Invest In Oil
  • 5 days Oil Prices Tank After API Reports Strong Build In Crude Inventories
  • 5 days Iraq Oil Revenue Not Enough For Sustainable Development
  • 5 days Sudan In Talks With Foreign Oil Firms To Boost Crude Production
  • 5 days Shell: Four Oil Platforms Shut In Gulf Of Mexico After Fire
  • 5 days OPEC To Recruit New Members To Fight Market Imbalance
  • 5 days Green Groups Want Norway’s Arctic Oil Drilling Licenses Canceled
  • 5 days Venezuelan Oil Output Drops To Lowest In 28 Years
  • 6 days Shale Production Rises By 80,000 BPD In Latest EIA Forecasts
  • 6 days GE Considers Selling Baker Hughes Assets
  • 6 days Eni To Address Barents Sea Regulatory Breaches By Dec 11
  • 6 days Saudi Aramco To Invest $300 Billion In Upstream Projects
  • 6 days Aramco To List Shares In Hong Kong ‘For Sure’
  • 6 days BP CEO Sees Venezuela As Oil’s Wildcard
  • 6 days Iran Denies Involvement In Bahrain Oil Pipeline Blast
  • 9 days The Oil Rig Drilling 10 Miles Under The Sea
  • 9 days Baghdad Agrees To Ship Kirkuk Oil To Iran
  • 9 days Another Group Joins Niger Delta Avengers’ Ceasefire Boycott
  • 9 days Italy Looks To Phase Out Coal-Fired Electricity By 2025
Alt Text

Petronas Halts all Imports of Iranian Crude in South Africa

Engen, a South African based unit of Petronas, has announced that it has halted all crude imports from Iran, which used to account for 80 percent of

Read more +
Alt Text

Acquisition of Maari 3D Seismic Survey Commences

Cue energy has just released good news regarding permits for projects in New Zealand

Read more +
Alt Text

Environmental Approval Extended for Tassie Shoal LNG Project

MEO Australia Ltd has just received environmental approval for its Tassie Shoal LNG project.

Read more +

Floyd 3d Seismic Survey Completed in Timor Sea

Completes acquisition of Floyd 3D seismic survey in WA-454-P

Key Points:
• Completes acquisition of Floyd 3D seismic survey in WA-454-P (MEO 100%)
• Survey will refine Marina resource estimation and Breakwater prospect drilling location

MELBOURNE, AUSTRALIA (28th February, 2012)

MEO Australia Limited (ASX: MEO; OTC: MEOAY) advises that the S/R Veritas Viking II
completed acquisition of the Floyd 3D seismic survey in WA-454-P in the Joseph Bonaparte Gulf
region of the Timor Sea (Petrel sub-basin) at 16:31 (WST) on 27th February 2012. A total of 601
km2 of full fold data was recorded. The survey will now be processed and is expected to be
available for interpretation in late 2Q-2012.

MEO’s CEO and MD Jürgen Hendrich, commented on the announcement:

“The conclusion of this survey brings to a close the most significant investment in 3D seismic in MEO’s history.

We have held this permit for barely 8 months and our initial assessment provided sufficient encouragement to accelerate an investment in the Floyd 3D seismic survey. This survey
covers the Marina gas and liquids discovery, the nearby Breakwater prospect and two additional leads.

The acquisition, processing and interpretation of modern, high quality, 3D seismic data is a key demonstration of MEO’s strategy to add technical value ahead of seeking a partner to fund drilling.

When the final processed data arrives in house late next quarter, we will refine our volumetric
assessment of the Marina gas and liquids discovery and mature the Breakwater prospect to
drillable status. This work is a pre-requisite to attracting a funding partner.”

To see the full release including tables and map please click on the pdf file above.

Oilprice - The No. 1 Source for Oil & Energy News