MEO Australia farms out half its Breakwater project to Origin

Origin will reimburse 80% of Drysdale's costs and will fund 80% of drilling costs for the well.

MEO Australia has entered into a binding agreement to farm out half of its Breakwater prospect to Origin Energy near Darwin off the coast of Western Australia.

Under the agreement, MEO's subsidiary Drysdale Offshore Exploration will relinquish 50% of its interest in WA-454-P to Origin, which will become the operator of the project.

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