The announcement comes after Braziliangiant Petrobras and Australia’s Moby Oil & Gas both dropped their stakes inthe permit last year.
MEO, which now holds an operating 62.5%stake in the licence, and project partner Cue Energy have been forced to relinquishseven of the original 15 graticular blocks in the permit area.
The companies would buy the outstanding 36,300hectare portion of the existing Foxhound multi-client 3D seismic surveyacquired in 2009 at about A$3 million (US$3.2
