MEO, Stuart granted farm-in extensions

MEO Australia has secured a 12-month extension to its option to retain a 60% stake in two offshore Western Australia permits, while Stuart Petroleum has been given more time to commit to a second well in VIC/P53 in the Gippsland Basin.

The options for WA-359-P and WA-360-P, which were due to expire on January 1, require MEO to commit to funding a well in each permit to retain its interest.