MEO Australia Limited advises that since the last progress report, the BOP’s have been run and tested. The 12-¼” hole commenced drilling at 21:30 hrs (Perth time) on Friday 3rd December and has been drilled to a depth of 2,936m .
The well was shut in at 18:00 hrs on Sunday 5th December after encountering an over-pressured gas zone above the primary objective.
Present activity is circulating 11.0ppg mud to enable resumption of drilling operations including running the contingent 9-5/8” casing string before drilling ahead to the primary objective.
WA-360-P Participants
*Petrobras International Braspetro PIB BV (a wholly owned subsidiary of Petrobras) 50%
*North West Shelf Exploration Pty Ltd (wholly owned MEO subsidiary) 25%
*Cue Energy Resources Limited 15%
*Rankin Trend Pty Ltd a wholly owned subsidiary of Moby Oil & Gas 10%
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Source: MEO Australia, December 6, 2010