MELBOUNE, Australia – Melbana Energy has secured approval from Australia’s National Offshore Petroleum Titles Administrator for a 12-month suspension of a work program on the WA-488-P permit in the Bonaparte basin offshore northwest Australia.
Permit Year 3 has at the same time extended by a year to Dec. 21, 2023.
The permit includes the Beehive prospect, a carbonate build-up with prospective resources of up to 388 MMboe, covered by 3D seismic survey. Melbana has continued planning/permitting arrangements for an exploration well, despite the withdrawals of Total and Santos from conditional farm-in agreements.
Melbana’s executive chairman Andrew Purcel, said: “We will use this extra time to continue to evaluate the 3D seismic results and further progress discussions with potential farminees for the drilling of an exploration well into this structure.
“These types of carbonate buildups are responsible for some of the world’s largest discoveries. When they work, they tend to work big, as can be seen in the estimates of prospective resource being significantly skewed to the upside, so we will continue to work towards the drilling of this important prospect.”