Melbana Awarded New Bonaparte Basin Exploration Permits
ASX-listed Melbana Energy Ltd. has been awarded petroleum exploration permits WA-544-P and NT/P87 in the Bonaparte basin, offshore Australia, as part of Australian Government’s 2019 Offshore Petroleum Exploration Acreage Release. MEO International Pty Ltd., a wholly-owned subsidiary of Melbana, will hold a 100% operated interest in the permits.
WA-544-P comprises 21 blocks covering an area of 1,215 sq. km and NT/P87 comprises 44 blocks, covering an area of 2,678 sq. km located in the Petrel Sub-basin of the Bonaparte basin. The permits are adjacent to the company’s operated permit WA-488-P, which contains the giant Beehive prospect.
“The award of these additional permits next to our Beehive Prospect allows us to build on the knowledge we have gained studying WA-488-P to pursue other leads across a wider area,” said Andrew Purcell, Executive Chairman of the company.
“This additional running room makes the Beehive Prospect an even more exciting opportunity, particularly since the minimum work requirements can leverage Melbana’s in-house expertise before having to decide whether to commit to the larger work commitments in years 4 and beyond,” he added.
Melbourne-based Melbana is engaged in exploration and production activities in Australia, New Zealand, and Cuba. In addition, the company also holds a 100% interest in the Tassie Shoal Methanol project and Tassie Shoal LNG project located in shallow waters of the Timor Sea.