Ashmore and Cartier Islands AC/P70
Melbana has a 100% interest in petroleum exploration permit AC/P70, located in the Territory of Ashmore and Cartier Islands.
The permit was awarded to Melbana in February 2022 for an initial six-year term.
AC/P70 contains the undeveloped Vesta and Swan gas and oil field discoveries.
In February 2025, Melbana announced maiden resource estimates for Vesta and Swan and several adjacent prospects.
Contingent Resource of 276 Bcf and 34 MMbbl (unrisked gross best estimate) associated with the undeveloped Vesta and Swan oil and gas fields.
Prospective Resource of 2,754 Bcf and 43 MMbbl (unrisked gross best estimate).
Proximity to existing infrastructure combined with the Contingent Resource significantly reduce the minimum economic pool size for development of any new discovery.
Heightened recognition of the importance of gas as a transition fuel combined with the limited number of new offshore exploration opportunities released in recent years lends additional significance to this opportunity.
Melbana has appointed Moyes & Co as advisors to assist with the identification of a suitably qualified partner to fund the forward work program.
