MEO Assigns Stake in Bonaparte Gulf to Origin

摘要

MEO Australia has reached agreement to assign its 50% interest in the WA-454-P exploration permit, in the Bonaparte Gulf, offshore northern Australia to Origin Energy Resources. The assignment follows extensive consideration by the company of its strategic focus and allocation of capital to its asset portfolio. MEO had actively sought an additional partner for WA-454-P to minimize the company's remaining exposure to overall exploration and drilling costs. However due to the current depressed farm-out market, this was unsuccessful.