Melbana gets extension for Beehive studies offshore Australia

Melbana Energy has received notification of approval to alter a work program for a license offshore Western Australia.

Offshore staff

MELBOURNE, Australia --Melbana Energy Ltd. (formerly MEO Australia Ltd.) has received notification of approval to alter a work program for a license offshore Western Australia.

The National Offshore Petroleum Titles Administrator has agreed to extend permit year two of theWA-488-P concession (Melbana 100%) by 16 months to March 21, 2018.

The timeframe for drilling theBeehive-1 exploration well has also been deferred accordingly.

Melbana saysrecent 2D seismic reprocessing and inversion has improved its understanding of the Beehive prospect. The extension will allow it to perform a further 330 km (205 mi) of 2D seismic broadband reprocessing and stratigraphic interpretation/analogue field studies.

Assuming a successfulfarm-down of the license, Melbana now aims to drill the well in 2019.

11/28/2016

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