DRILLING

MEO sweats on Heron results

NERVOUS investors dumped MEO Australia shares this morning, with the completion of drilling at Heron South-1 in Timor Sea permit NT/P68 meaning operator Eni has 60 days to decide whether to drill again or abandon its farm-in.

Andy Graham

MEO shares plummeted 23% to 17c before recovering half of that lost ground to be at 19.5c. MEO reported this morning Heron South-1 had reached its total depth of 4454m. "A comprehensive formation evaluation...

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