MEO Australia Limited announces that it has been awarded a new exploration permit, AC/P53 in the Ashmore Cartier region of the Timor Sea.
MEO will hold 100% interest in the permit. The permit covers 504 km and is contiguous with MEO’s 100% equity AC/P50 and AC/P51 permits.
AC/P53 is the second permit awarded to MEO under the 2010 offshore petroleum acreage release. MEO had previously announced on 14 th June 2011 the award of Permit WA-454-P.
Source: Meo Australia, July 8, 2011;