Gulf Oil and Gas accountACCOUNT

Suspension and Extension of WA-488-P

Source: www.gulfoilandgas.com 5/29/2020, Location: Not categorized

Melbana Energy Limited has been advised by the National Offshore Petroleum Titles Administrator that its application for a 12 month suspension of the work program conditions in respect of Permit Year 3 (with a corresponding extension of the permit term) for Petroleum Exploration Permit WA-488-P has been approved. As a result, Permit Year 3 now ends on 21 December 2021 and the permit term will end on 21 December 2023.

WA-488-P contains the giant Beehive prospect – a carbonate build up that has been independently assessed to have a prospective resource of 388 million barrels of oil equivalent (best estimate). A 3D seismic survey has been completed over the prospect and considerable progress has been made on planning and permitting for an exploration well.

Melbana Energy’s Executive Chairman, Andrew Purcell, 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.”

Exploration News in Australia >>

Nigeria >>  9/18/2020 - Zenith Energy Ltd., the listed international oil & gas production company focused on pursuing African development opportunities, is pleased to announc...
Nigeria >>  9/17/2020 - Further to the announcement of 3 August 2020, ADM Energy PLC, a natural resources investing company, is pleased to announce that it has formally submi...

Egypt >>  9/16/2020 - Eni (as the Operator of the Block) and bp (as contractor member) announce a new gas discovery in the so-called "Great Nooros Area", located in the Abu...
Argentina >>  9/15/2020 - President Energy, the energy company with a diverse portfolio of production and exploration assets focused primarily in Argentina has provided an oper...

United Kingdom >>  9/15/2020 - Deltic Energy, the AIM quoted natural resources investing company with a high impact exploration and appraisal portfolio focused on the Southern and C...
Brazil >>  9/14/2020 - Petrobras reports on the revision of the Exploration & Production (E&P) segment portfolio in face of the crisis caused by COVID-19. The revision aims ...




Australia Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 |

More News

Related Links

Gulf Oil and Gas
Copyright © 2020 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.