• Regulator grants credit in current Permit Year 2 for completion of Beehive 3D Seismic Survey due in Permit Year 4
• Beehive 3D Seismic Survey underway, expected to be completed shortly and is fully funded by Total and Santos
• Giant Beehive Prospect is one of the largest undrilled hydrocarbon structures in Australia
• If Total and/or Santos exercises options to drill, Melbana retains 20% and is fully carried for the first exploration well drilled in WA-488-P

Melbana Energy Limited has received notice from the National Offshore Petroleum Titles Administrator (NOPTA) of the approval of its application for a WA-488-P work program credit. As a result, the acquisition of the Beehive 3D Seismic Survey currently underway in Permit Year 2 is officially credited against meeting the Permit Year 4 work commitment to acquire a new 400km² 3D seismic survey.

The Beehive 3D Seismic Survey is currently being acquired by Polarcus using their vessel Polarcus Naila and will consist of the acquisition of approximately 600km² of seismic data over the Beehive Prospect in the Joseph Bonaparte Gulf, 225 km southwest of Darwin.

The Beehive 3D Seismic Survey is being operated by Australian energy company Santos pursuant to an Operations Services Agreement and is fully funded by French major Total and Santos.

The acquisition of a new 3D seismic survey over Beehive will provide potential for further de-risking of the prospect and will facilitate consideration of a preferred location for the Beehive-1 exploration well.

Melbana Energy’s CEO, Robert Zammit, said:
“The crediting of the Beehive 3D seismic survey being acquired in Year 2 against the Year 4 work commitment will streamline and simplify the future work program for the WA-488-P permit.”