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Improved Seismic Data Identifies Additional Prospectivity in AC/P50 and AC/P51 Permits

Source: 11/10/2017, Location: Not categorized

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Melbana Energy Limited provides an update on its offshore Australian Exploration Permits AC/P50 and AC/P51 (“Permits”) (Melbana 55%1 and operator).

Melbana’s preliminary assessment of the recent 3D seismic broadband reprocessing results has identifie d the potential for additional prospectivity in the Permits resulting from improved data quality, including an amplitude-supported objective immediately above the existing Ramble On prospect. In the right conditions, an amplitude anomaly can be a direct indicator of hydrocarbons.

The 3D seismic broadband reprocessing was undertaken by incoming Joint Venture partner Rouge Rock Pty Ltd (“Rouge Rock”) at its own cost as part of the program through which it earnt a 45% participating interest in the Permits. The indicative value of the reprocessing work undertaken by Rouge Rock is approximately $1.15 million.

Melbana is currently undertaking a detailed evaluation of the reprocessed data and the resulting suite of enhanced technical products which are intended to characterise any new prospects and leads as well as further de-risk the identified prospects and leads, facilitating a potential further farm-out of the Permits to fund future discretionary exploration drilling.

Below are examples of the seismic data across Ramble On before and after the 2017 reprocessing which highlights the improved seismic data quality in general and specifically the presence of an amplitude anomaly, previously not identified, in a prospective sequence directly overlying the deeper Ramble On prospect. Further detailed analysis will now be undertaken to quantify this newly identified zone of interest.

Melbana Energy’s CEO and MD Peter Stickland said:

“The recent substantial seismic reprocessing study, valued at over $1 million, through which Melbana was fully carried by Rouge Rock, has significantly improved the seismic imaging in an area with historically poor data quality. We are already seeing some additional prospectivity in this proven oil area that was not visible on the old data. Melbana’s technical team will now proceed to integrate the new reprocessed seismic with existing datasets in the area with a view to further defining this potential new play type.”

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Related Categories: Formation Evaluation  General  Geological, Geophysical  Geophysical Contractors  Mud Logging  Reservoir Engineering & Recovery Methods  Seismic survey  Well Completion, Logging, Workover 

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