Australia - Petrel Sub-Basin Exploration

Beehive –  giant oil prospect in 40m water depth

WA-488-P (Melbana Energy - 100%) is located in the Petrel Sub-basin in the Joseph Bonaparte Gulf between the producing Blacktip gas field and the undeveloped Turtle and Barnett oil discoveries and has an area of 4,074 km2.

Melbana has identified the potentially giant Beehive prospect, located in ~40m water depth and defined by a tight grid of high quality 2D seismic data, as one of the largest hydrocarbon prospects in Australia. The Beehive prospect is a 180km2 isolated carbonate build up of Carboniferous age with 400m of mapper vertical relief and a crest at 4,100m. Beehive is analagous to the giant Tengiz field in the Caspian basin which is also a Carboniferous isolated carbonate build-up.