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November 13, 2017

Melbana Energy finds additional prospectivity in Australian permits

Melbana Energy has identified the potential for additional prospectivity in its offshore Australian exploration permits AC/P50 and AC/P51. 

Melbana Energy has identified the potential for additional prospectivity in its offshore Australian exploration permits AC/P50 and AC/P51.

The development is based on the company’s preliminary assessment of the recent 3D seismic broadband reprocessing results.

The company attributed the findings to improved data quality, including an amplitude-supported objective immediately above the existing Ramble On prospect.

It is said that an amplitude anomaly can be a direct indicator of hydrocarbons, provided the right conditions are prevalent.

Melbana Energy CEO and managing director Peter Stickland said: “The recent substantial seismic reprocessing study, valued at over $1m, 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.

“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.”

The company’s joint venture partner Rouge Rock acquired a 45% participating interest in the permits.

Under the JV deal, Rouge Rock carried out the 3D seismic broadband reprocessing at a cost of around $1.15m.

Currently, a detailed evaluation of the reprocessed data is in progress in order to characterise any new prospects and leads.

In addition, the evaluation is aimed at further de-risking the identified prospects and leads.

Melbana is planning to explore further farm-out of the permits to fund exploration drilling in future.

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