The company revealed on Tuesday that the NationalOffshore Petroleum Titles Administrator had approved work programme variationsit had requested for AC/P50 and AC/P51.
Under the original permit terms MEO wasrequired to drill an exploration well on each of the permits which would havecost an estimated A$30 million (US$28 million) each.
It will instead now only be required carryout geotechnical studies during the sixth and final year of the permits at anestimated cost of A$150,000 on each permit.
MEO
