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MEO Australia And Eni Australia JV Report On Heron South-1 Well

MEO Australia (ASX: MEO; OTCQX: MEOAY) has updated the market today on Heron South-1 well in the Timor Sea offshore Northern Territory.

Eni Australia as operator (50% MEO and 50% Eni) of the NT/P68 exploration permit had drilled the Heron South-1 610mm (24") hole to a depth of 1330mMDRT. The 20" casing has been run and cemented at 1,310 metres.

Importantly - there have been no incidents and well operations are proceeding according to plan.

Eni plans to install the wellhead and Blow Out Preventer on the 20" casing before drilling the 17½" hole to a target depth of around 3,000 metres.

The well was spudded on the 24th August 2012 and is planned to be drilled to at least 4,230mSS or the gas water contact, with the drilling program expected to take around 60 days.

The well is being drilled to determine the productivity of the Elang-Plover reservoir and the gas composition.

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