MEO Australia has received a new exploration permit in the Ashmore Cartier region of the Timor Sea.

The AC / P53 permit covers 504km² and lies next to MEO’s AC / P50 and AC / P51 permits.

This is the second permit the company has received under the 2010 offshore petroleum acreage release. MEO will hold a 100% interest in the permit.

Last month the company was awarded exploration permit WA-454-P in the Bonaparte Basin.