WA-488-P Giant Beehive Prospect Farmout Update
Monday 12 September 2016
MEO Australia Limited (“MEO”) (ASX: MEO) provides the following update for the farmout process for WA-488-P (MEO 100%) containing the giant Beehive prospect.
Following conclusion of the recent successful seismic reprocessing and inversion project which has reinvigorated interest from major players, MEO commenced a farmout process to secure funding partners to progress the technical assessment of, and ultimately drill, the Beehive prospect.
To date, four substantial companies have engaged in the process and are actively reviewing the technical data for WA-488-P. MEO is seeking responses from these potential farminees by the end of October 2016, but timing remains subject to ongoing market conditions and the addition of any new parties to the process.
More - http://www.meoaustralia.com.au/icms_docs/250409_WA...