MEO requests share trading halt
Tuesday, December 11 2012 - 01:11 AM WIB
ASX-listed MEO Australia Limited (MEO) has requested a trading halt of its shares for up to two days effective immediately pending the results of production testing of the Baong sands in the Gurame SE-1XST well in the Seruway production sharing contract, offshore North Sumatra.
MEO announced in a press statement on Monday that for the purpose of ASX Listing Rule 17.1, it informed that the trading halt was necessary as otherwise trading in MEO shares may take place in an uninformed market.
The trading halt will remain in place until it is in a position to make an announcement to the market regarding the production test results.
MEO anticipates that an announcement will be made prior to the commencement of normal trading on 13th December 2012 and the trading halt will cease at that time. ?MEO is not aware of any reason why the trading halt should not be granted,? it stated.
Editing by Benget Besalicto Tnb.