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EXPLORATION

MEO considers Shannon drilling

MEO Australia has flagged the possibility of the Shannon-1 well being drilled within its only block in New Zealand this financial year now that its cash-strapped partner Kea Petroleum has sold out its interest to cashed up NZ concern Caliera Fund.

Haydn Black

MEO elected not to use its pre-emptive right over Kea's 70% interest in PEP 51153, saying 30% was the appropriate level for the junior. Caliera paid just $NZ500,000 ($A447,000) for its share of the asset,...

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