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MEO Australia Limited

ABN 43 066 447 952

ASX & Media Release

Blackwood-2 Progress Report No.5

• Preparing to drill ahead in 216mm (8½") hole at 3,150mMDRT

MELBOURNE, AUSTRALIA (29th November, 2013)

MEO Australia Limited (ASX: MEO; OTCQX: MEOAY) advises that at 06:00 Darwin time on Friday
29th November, the Ensco 104 jack up drilling rig was preparing to drill ahead in 216mm (8½") hole at 3,150mMDRT.
Operational progress since the previous report is summarised in the table below.

Progress Summary

Progress since last report:

− Secured rig for approaching tropical low

− Completed weather standby period and commenced preparations to drill ahead

Present Operation (at 06:00 Darwin time, 29th November 2013) :

− Preparing to drill ahead in 216mm (8½") hole at 3,150mMDRT

Outlook:

− Drill 216mm (8½") hole to approximately 3,360mMDRT (Total Depth)

Background

The Blackwood-2 appraisal well is located approximately 8km from the Blackwood-1 discovery well. Further information regarding the NT/P68 Exploration Permit is available on the MEO website.
The drilling of Blackwood-2 is an obligation under the NT/P68 Farm-in Agreement (FIA) dated 17th May 2011 between Eni Australia Limited (Eni) and MEO. Under the FIA and subsequent amendment, MEO's 50% participating interest share of the costs of the well will be carried.

Jürgen Hendrich

Managing Director & Chief Executive Officer

*mMDRT = metres measured depth below rotary table. This datum is 36.6m above sea level.

MEO Australia Limited 1 ASX & Media Release