The data from the 250-square-kilometre survey has confirmed vintage 2D data that shows the Artemis prospect is on a structural high, and has both extended the northern boundary of the prospect and increased the size of the Artemis structural trap.

It also confirmed the existence of seismic amplitudes exhibiting downdip terminations that are consistent with a possible gas-water contact.

MEO added that biostratigraphic data obtained from the Zeus-1 well in the adjacent WA-361-P suggested the presence of higher-quality Calypso Formation reservoir sands overlying the already identified Legendre Formation in the northern region of the prospect.

This, coupled with the larger Artemis structural trap, could increase predrill volumes within WA-360-P.

Data from the survey has been made available for potential farm-in partners and MEO has signalled its willingness to extend the July 31 deadline for offers.

MEO noted that some potential farm-in partners had been waiting for the new 3D data before visiting the data rooms, with several companies requesting an extension to the deadline for indicative offers to enable them to complete their evaluation of the permit.

The company has also deferred the farm-out of its NT/P68 permit to allow for the possible sale by Santos of its 40% stake in the nearby Evans Shoal gas field.

MEO said the sale could increase the strategic value of its permit, particularly in light of these developments coupled with Resources and Energy Minister Martin Ferguson's moves to review the retention lease regime.