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Drilling delayed but MEO hopes it’s well worth the wait

The champagne is in the fridge at the offices of oil and gas explorer MEO Australia, but the corks aren’t popping yet.

Sarah Thompson and Paul Garvey

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The champagne is in the fridge at the offices of oil and gas explorer MEO Australia , but the corks aren’t popping yet.

MEO said yesterday its highly anticipated Artemis well in Western Australia’s prolific Carnarvon Basin had intersected highly pressurised gas above the well’s target reservoir. While that sounds promising, it neither proves nor disproves the presence of gas in the well’s target. What it does mean for sure, however, is that drilling progress will have to slow as extra safety precautions are used as the well moves through the highly pressured zones. Final results may well now not be known for a further two weeks, according to EL & C Baillieu.

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Original URL: https://www.afr.com/companies/energy/drilling-delayed-but-meo-hopes-it-s-well-worth-the-wait-20101207-iu7u9