MNE: EP 494 Prospective Resources Update
Original announcement by asx on
- Company
- Macallum New Energy Limited
- Ticker
- MNE
- Exchange
- ASX
- Region
- Western Australia
- Primary commodity
- Gas
- Secondary commodities
- Oil, Condensate
- Document categories
- Resource update
- Extracted
- 2026-10-05 22:15:15 UTC
Analysis by Minestarters Atlas
Atlas analysis published:
Minestarters Atlas analysis
Summary
Macallum New Energy Limited has announced a material update to its prospective resource estimates for EP 494 in the onshore North Perth Basin, with the Gadee Prospect's mean prospective gas resource increasing by 70% to 221 PJ. The update, based on new 3D seismic data and advanced reprocessing, has significantly de-risked key Jurassic and Permian targets, including a new Triassic target in the Barberton Terrace Deep Prospect. The company plans to commence a farmout process to identify a joint venture partner for drilling up to two wells in H2 2027.
Reasoning: Macallum New Energy announced a material update to its prospective resource estimates, showing a significant 70% increase in the mean prospective gas resource for the Gadee Prospect, driven by new 3D seismic data and advanced reprocessing that de-risked key targets. The estimates are independently assessed and comply with SPE-PRMS standards, enhancing confidence in the project's potential.
Positive factors
- Significant increase in mean prospective gas resource (70% for Gadee)
- Independent assessment by Molyneux Advisors Pty Ltd
- New 3D seismic survey materially de-risked and upgraded targets
- Identification of a new Triassic-age target in BTD Prospect
- Prospects positioned shallower, potentially reducing well cost and improving reservoir quality
- QP/CP sign-off by Mr Hongfeng Wu
Negative factors
- Resources are prospective (undiscovered) and carry discovery and development risk
- Yarra remains a lead due to partial 3D seismic coverage
- Arithmetic summation used for total prospective resources, not rigorously probabilistic
Facts used in scoring: 40
Classification and evidence
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: The document provides an 'EP 494 Prospective Resources Update' based on new seismic data and reprocessing.
Evidence · text
“EP 494 Prospective Resources Update”
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: The resource estimates are signed off by Mr Hongfeng Wu, Director of Molyneux Advisors Pty Ltd, a qualified petroleum reserves and resource evaluator.
Evidence · text
“The information in this announcement that relates to estimates of Prospective Resources is based on, and fairly represents, information and supporting documentation prepared by, or under the supervision of, qualified petroleum reserves and resource evaluator Mr Hongfeng Wu, Director of Molyneux Advisors Pty Ltd.”
Contained Metal Growthpositive
True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes.
Why it applies: The Gadee Prospect Mean Prospective Gas Resource increased by 70% compared to the previous estimate.
Evidence · text
“Gadee Prospect Mean Prospective Gas Resource Increased by 70%”
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: The document reports 'Prospective Resources' which are undiscovered accumulations, aligning with the lowest confidence category of 'inferred' in the provided schema.
Evidence · text
“The estimated quantities of petroleum that may potentially be recovered by the application of a future development project(s) relate to undiscovered accumulations.”
All Inferrednegative
100% of resource is Inferred category — very early stage, no engineering confidence.
Why it applies: All reported resource estimates are for 'Prospective Resources', which are undiscovered and thus fall into the lowest confidence category (inferred) within the schema.
Evidence · text
“The estimated quantities of petroleum that may potentially be recovered by the application of a future development project(s) relate to undiscovered accumulations.”
Extracted facts
Stored fact records: 40. Some facts used in scoring do not have a stored record.
Resource Estimates (40)
inferredEP 494 · gasContained Metal: 343Contained Unit: pjView all detailsHide details
Identity
- Project
- EP 494
- Commodity
- gas
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- MNE
Resource scope
- Estimate type
- resource
- Reporting standards
- other
- QP Signed
- Yes
- Qualified person names
- Mr Hongfeng Wu
- Resource group id
- resource:cf47f4f88fd55445197f
- Deposit or zone
- BTD Prospect
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- inferred
- Contained Metal
- 343
- Contained Unit
- pj
Prior Estimate
- Resource Date
- 2026-09-30
Location
- Loc. Confidence
- medium
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-05T00:00:00.000Z
Reasoning: The 1U estimate for BTD Prospect represents a significant low-end prospective gas resource, independently assessed and de-risked by new seismic data, indicating substantial potential for future discovery.
Positive factors
- Large prospective gas resource
- Independent assessment
- New seismic data improved confidence
Negative factors
- Prospective (undiscovered) resource
- Lowest confidence category (1U)
Evidence · table
“343”
Context: BTD Prospect
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
No QP/CP Disclosurenegative
No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience.
Why it applies: no Qualified or Competent Person is named anywhere in the release
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
inferredEP 494 · gasContained Metal: 1090Contained Unit: pjView all detailsHide details
Identity
- Project
- EP 494
- Commodity
- gas
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- MNE
Resource scope
- Estimate type
- resource
- Reporting standards
- other
- QP Signed
- Yes
- Qualified person names
- Mr Hongfeng Wu
- Resource group id
- resource:cf47f4f88fd55445197f
- Deposit or zone
- BTD Prospect
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- inferred
- Contained Metal
- 1090
- Contained Unit
- pj
Prior Estimate
- Resource Date
- 2026-09-30
Location
- Loc. Confidence
- medium
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-05T00:00:00.000Z
Reasoning: The 2U estimate for BTD Prospect indicates a very large prospective gas resource, independently assessed and benefiting from improved seismic data, suggesting strong potential for future discovery.
Positive factors
- Very large prospective gas resource
- Independent assessment
- New seismic data improved confidence
Negative factors
- Prospective (undiscovered) resource
- Mid-range confidence category (2U)
Evidence · table
“1090”
Context: BTD Prospect
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
No QP/CP Disclosurenegative
No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience.
Why it applies: no Qualified or Competent Person is named anywhere in the release
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
inferredEP 494 · gasContained Metal: 3134Contained Unit: pjView all detailsHide details
Identity
- Project
- EP 494
- Commodity
- gas
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- MNE
Resource scope
- Estimate type
- resource
- Reporting standards
- other
- QP Signed
- Yes
- Qualified person names
- Mr Hongfeng Wu
- Resource group id
- resource:cf47f4f88fd55445197f
- Deposit or zone
- BTD Prospect
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- inferred
- Contained Metal
- 3134
- Contained Unit
- pj
Prior Estimate
- Resource Date
- 2026-09-30
Location
- Loc. Confidence
- medium
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-05T00:00:00.000Z
Reasoning: The 3U estimate for BTD Prospect highlights an exceptionally large prospective gas resource, independently assessed and supported by improved seismic data, indicating significant upside potential.
Positive factors
- Extremely large prospective gas resource
- Independent assessment
- New seismic data improved confidence
Negative factors
- Prospective (undiscovered) resource
- Highest confidence category (3U) for prospective
Evidence · table
“3134”
Context: BTD Prospect
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
No QP/CP Disclosurenegative
No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience.
Why it applies: no Qualified or Competent Person is named anywhere in the release
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
inferredEP 494 · gasContained Metal: 1513Contained Unit: pjView all detailsHide details
Identity
- Project
- EP 494
- Commodity
- gas
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- MNE
Resource scope
- Estimate type
- resource
- Reporting standards
- other
- QP Signed
- Yes
- Qualified person names
- Mr Hongfeng Wu
- Resource group id
- resource:cf47f4f88fd55445197f
- Deposit or zone
- BTD Prospect
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- inferred
- Contained Metal
- 1513
- Contained Unit
- pj
Prior Estimate
- Resource Date
- 2026-09-30
Location
- Loc. Confidence
- medium
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-05T00:00:00.000Z
Reasoning: The mean prospective gas resource for BTD Prospect is very large and independently assessed, benefiting from improved seismic data and being identified as potentially the largest undrilled prospect in the basin, indicating high materiality.
Positive factors
- Very large mean prospective gas resource
- Independent assessment
- New seismic data improved confidence
- Largest undrilled Permian and gas prospect in Perth Basin
Negative factors
- Prospective (undiscovered) resource
Evidence · table
“1513”
Context: BTD Prospect
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
No QP/CP Disclosurenegative
No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience.
Why it applies: no Qualified or Competent Person is named anywhere in the release
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
inferredEP 494 · gasContained Metal: 60Contained Unit: pjView all detailsHide details
Identity
- Project
- EP 494
- Commodity
- gas
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- MNE
Resource scope
- Estimate type
- resource
- Reporting standards
- other
- QP Signed
- Yes
- Qualified person names
- Mr Hongfeng Wu
- Resource group id
- resource:440c64fd841124b8fa67
- Deposit or zone
- Gadee East Prospect
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- inferred
- Contained Metal
- 60
- Contained Unit
- pj
Prior Estimate
- Resource Date
- 2026-09-30
Location
- Loc. Confidence
- medium
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-05T00:00:00.000Z
Reasoning: The 1U estimate for Gadee East Prospect represents a significant low-end prospective gas resource, independently assessed and de-risked by new 3D seismic data, indicating strong potential.
Positive factors
- Significant prospective gas resource
- Independent assessment
- New 3D seismic de-risked target
Negative factors
- Prospective (undiscovered) resource
- Lowest confidence category (1U)
Evidence · table
“60”
Context: Gadee East Prospect
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
No QP/CP Disclosurenegative
No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience.
Why it applies: no Qualified or Competent Person is named anywhere in the release
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
inferredEP 494 · gasContained Metal: 150Contained Unit: pjView all detailsHide details
Identity
- Project
- EP 494
- Commodity
- gas
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- MNE
Resource scope
- Estimate type
- resource
- Reporting standards
- other
- QP Signed
- Yes
- Qualified person names
- Mr Hongfeng Wu
- Resource group id
- resource:440c64fd841124b8fa67
- Deposit or zone
- Gadee East Prospect
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- inferred
- Contained Metal
- 150
- Contained Unit
- pj
Prior Estimate
- Resource Date
- 2026-09-30
Location
- Loc. Confidence
- medium
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-05T00:00:00.000Z
Reasoning: The 2U estimate for Gadee East Prospect indicates a material prospective gas resource, independently assessed and benefiting from new 3D seismic data, suggesting strong potential for future discovery.
Positive factors
- Material prospective gas resource
- Independent assessment
- New 3D seismic de-risked target
Negative factors
- Prospective (undiscovered) resource
- Mid-range confidence category (2U)
Evidence · table
“150”
Context: Gadee East Prospect
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
No QP/CP Disclosurenegative
No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience.
Why it applies: no Qualified or Competent Person is named anywhere in the release
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
inferredEP 494 · gasContained Metal: 340Contained Unit: pjView all detailsHide details
Identity
- Project
- EP 494
- Commodity
- gas
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- MNE
Resource scope
- Estimate type
- resource
- Reporting standards
- other
- QP Signed
- Yes
- Qualified person names
- Mr Hongfeng Wu
- Resource group id
- resource:440c64fd841124b8fa67
- Deposit or zone
- Gadee East Prospect
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- inferred
- Contained Metal
- 340
- Contained Unit
- pj
Prior Estimate
- Resource Date
- 2026-09-30
Location
- Loc. Confidence
- medium
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-05T00:00:00.000Z
Reasoning: The 3U estimate for Gadee East Prospect highlights a large prospective gas resource, independently assessed and supported by new 3D seismic data, indicating significant upside potential.
Positive factors
- Large prospective gas resource
- Independent assessment
- New 3D seismic de-risked target
Negative factors
- Prospective (undiscovered) resource
- Highest confidence category (3U) for prospective
Evidence · table
“340”
Context: Gadee East Prospect
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
No QP/CP Disclosurenegative
No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience.
Why it applies: no Qualified or Competent Person is named anywhere in the release
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
inferredEP 494 · gasContained Metal: 182Contained Unit: pjView all detailsHide details
Identity
- Project
- EP 494
- Commodity
- gas
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- MNE
Resource scope
- Estimate type
- resource
- Reporting standards
- other
- QP Signed
- Yes
- Qualified person names
- Mr Hongfeng Wu
- Resource group id
- resource:440c64fd841124b8fa67
- Deposit or zone
- Gadee East Prospect
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- inferred
- Contained Metal
- 182
- Contained Unit
- pj
Prior Estimate
- Resource Date
- 2026-09-30
Location
- Loc. Confidence
- medium
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-05T00:00:00.000Z
Reasoning: The mean prospective gas resource for Gadee East Prospect is significant and independently assessed, benefiting from new 3D seismic data and contributing materially to the overall increase in Gadee's combined mean resource.
Positive factors
- Significant mean prospective gas resource
- Independent assessment
- New 3D seismic de-risked target
- Contributes to 70% increase in Gadee combined mean
Negative factors
- Prospective (undiscovered) resource
Evidence · table
“182”
Context: Gadee East Prospect
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
No QP/CP Disclosurenegative
No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience.
Why it applies: no Qualified or Competent Person is named anywhere in the release
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
inferredEP 494 · gasContained Metal: 11Contained Unit: pjView all detailsHide details
Identity
- Project
- EP 494
- Commodity
- gas
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- MNE
Resource scope
- Estimate type
- resource
- Reporting standards
- other
- QP Signed
- Yes
- Qualified person names
- Mr Hongfeng Wu
- Resource group id
- resource:5c63d219ad58a817604d
- Deposit or zone
- Gadee West Prospect
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- inferred
- Contained Metal
- 11
- Contained Unit
- pj
Prior Estimate
- Resource Date
- 2026-09-30
Location
- Loc. Confidence
- medium
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-05T00:00:00.000Z
Reasoning: The 1U estimate for Gadee West Prospect represents a prospective gas resource, independently assessed and de-risked by new 3D seismic data, though it is a smaller low-end estimate.
Positive factors
- Prospective gas resource identified
- Independent assessment
- New 3D seismic de-risked target
Negative factors
- Prospective (undiscovered) resource
- Lowest confidence category (1U)
- Relatively smaller resource
Evidence · table
“11”
Context: Gadee West Prospect
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
No QP/CP Disclosurenegative
No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience.
Why it applies: no Qualified or Competent Person is named anywhere in the release
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
inferredEP 494 · gasContained Metal: 30Contained Unit: pjView all detailsHide details
Identity
- Project
- EP 494
- Commodity
- gas
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- MNE
Resource scope
- Estimate type
- resource
- Reporting standards
- other
- QP Signed
- Yes
- Qualified person names
- Mr Hongfeng Wu
- Resource group id
- resource:5c63d219ad58a817604d
- Deposit or zone
- Gadee West Prospect
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- inferred
- Contained Metal
- 30
- Contained Unit
- pj
Prior Estimate
- Resource Date
- 2026-09-30
Location
- Loc. Confidence
- medium
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-05T00:00:00.000Z
Reasoning: The 2U estimate for Gadee West Prospect indicates a prospective gas resource, independently assessed and benefiting from new 3D seismic data, though it is a smaller mid-range estimate.
Positive factors
- Prospective gas resource identified
- Independent assessment
- New 3D seismic de-risked target
Negative factors
- Prospective (undiscovered) resource
- Mid-range confidence category (2U)
- Relatively smaller resource
Evidence · table
“30”
Context: Gadee West Prospect
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
No QP/CP Disclosurenegative
No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience.
Why it applies: no Qualified or Competent Person is named anywhere in the release
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
inferredEP 494 · gasContained Metal: 77Contained Unit: pjView all detailsHide details
Identity
- Project
- EP 494
- Commodity
- gas
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- MNE
Resource scope
- Estimate type
- resource
- Reporting standards
- other
- QP Signed
- Yes
- Qualified person names
- Mr Hongfeng Wu
- Resource group id
- resource:5c63d219ad58a817604d
- Deposit or zone
- Gadee West Prospect
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- inferred
- Contained Metal
- 77
- Contained Unit
- pj
Prior Estimate
- Resource Date
- 2026-09-30
Location
- Loc. Confidence
- medium
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-05T00:00:00.000Z
Reasoning: The 3U estimate for Gadee West Prospect highlights a prospective gas resource, independently assessed and supported by new 3D seismic data, though it is a smaller high-end estimate.
Positive factors
- Prospective gas resource identified
- Independent assessment
- New 3D seismic de-risked target
Negative factors
- Prospective (undiscovered) resource
- Highest confidence category (3U) for prospective
- Relatively smaller resource
Evidence · table
“77”
Context: Gadee West Prospect
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
No QP/CP Disclosurenegative
No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience.
Why it applies: no Qualified or Competent Person is named anywhere in the release
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
inferredEP 494 · gasContained Metal: 39Contained Unit: pjView all detailsHide details
Identity
- Project
- EP 494
- Commodity
- gas
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- MNE
Resource scope
- Estimate type
- resource
- Reporting standards
- other
- QP Signed
- Yes
- Qualified person names
- Mr Hongfeng Wu
- Resource group id
- resource:5c63d219ad58a817604d
- Deposit or zone
- Gadee West Prospect
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- inferred
- Contained Metal
- 39
- Contained Unit
- pj
Prior Estimate
- Resource Date
- 2026-09-30
Location
- Loc. Confidence
- medium
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-05T00:00:00.000Z
Reasoning: The mean prospective gas resource for Gadee West Prospect is independently assessed and benefits from new 3D seismic data, contributing to the overall increase in Gadee's combined mean resource, despite being a smaller individual component.
Positive factors
- Prospective gas resource identified
- Independent assessment
- New 3D seismic de-risked target
- Contributes to 70% increase in Gadee combined mean
Negative factors
- Prospective (undiscovered) resource
- Relatively smaller resource
Evidence · table
“39”
Context: Gadee West Prospect
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
No QP/CP Disclosurenegative
No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience.
Why it applies: no Qualified or Competent Person is named anywhere in the release
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
inferredEP 494 · gasContained Metal: 56Contained Unit: pjView all detailsHide details
Identity
- Project
- EP 494
- Commodity
- gas
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- MNE
Resource scope
- Estimate type
- resource
- Reporting standards
- other
- QP Signed
- Yes
- Qualified person names
- Mr Hongfeng Wu
- Resource group id
- resource:c21346805045e04edc33
- Deposit or zone
- Yarra Lead
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- inferred
- Contained Metal
- 56
- Contained Unit
- pj
Prior Estimate
- Resource Date
- 2026-09-30
Location
- Loc. Confidence
- medium
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-05T00:00:00.000Z
Reasoning: The 1U estimate for Yarra Lead represents a prospective gas resource, independently assessed and benefiting from new 3D seismic data, but its status as a lead due to a data gap reduces confidence.
Positive factors
- Prospective gas resource identified
- Independent assessment
- New 3D seismic improved definition
Negative factors
- Prospective (undiscovered) resource
- Lowest confidence category (1U)
- Remains a lead due to data gap
Evidence · table
“56”
Context: Yarra Lead
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
No QP/CP Disclosurenegative
No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience.
Why it applies: no Qualified or Competent Person is named anywhere in the release
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
inferredEP 494 · gasContained Metal: 159Contained Unit: pjView all detailsHide details
Identity
- Project
- EP 494
- Commodity
- gas
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- MNE
Resource scope
- Estimate type
- resource
- Reporting standards
- other
- QP Signed
- Yes
- Qualified person names
- Mr Hongfeng Wu
- Resource group id
- resource:c21346805045e04edc33
- Deposit or zone
- Yarra Lead
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- inferred
- Contained Metal
- 159
- Contained Unit
- pj
Prior Estimate
- Resource Date
- 2026-09-30
Location
- Loc. Confidence
- medium
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-05T00:00:00.000Z
Reasoning: The 2U estimate for Yarra Lead indicates a prospective gas resource, independently assessed and benefiting from new 3D seismic data, but its status as a lead due to a data gap reduces confidence.
Positive factors
- Prospective gas resource identified
- Independent assessment
- New 3D seismic improved definition
Negative factors
- Prospective (undiscovered) resource
- Mid-range confidence category (2U)
- Remains a lead due to data gap
Evidence · table
“159”
Context: Yarra Lead
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
No QP/CP Disclosurenegative
No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience.
Why it applies: no Qualified or Competent Person is named anywhere in the release
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
inferredEP 494 · gasContained Metal: 387Contained Unit: pjView all detailsHide details
Identity
- Project
- EP 494
- Commodity
- gas
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- MNE
Resource scope
- Estimate type
- resource
- Reporting standards
- other
- QP Signed
- Yes
- Qualified person names
- Mr Hongfeng Wu
- Resource group id
- resource:c21346805045e04edc33
- Deposit or zone
- Yarra Lead
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- inferred
- Contained Metal
- 387
- Contained Unit
- pj
Prior Estimate
- Resource Date
- 2026-09-30
Location
- Loc. Confidence
- medium
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-05T00:00:00.000Z
Reasoning: The 3U estimate for Yarra Lead highlights a prospective gas resource, independently assessed and supported by new 3D seismic data, but its status as a lead due to a data gap reduces confidence.
Positive factors
- Prospective gas resource identified
- Independent assessment
- New 3D seismic improved definition
Negative factors
- Prospective (undiscovered) resource
- Highest confidence category (3U) for prospective
- Remains a lead due to data gap
Evidence · table
“387”
Context: Yarra Lead
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
No QP/CP Disclosurenegative
No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience.
Why it applies: no Qualified or Competent Person is named anywhere in the release
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
inferredEP 494 · gasContained Metal: 199Contained Unit: pjView all detailsHide details
Identity
- Project
- EP 494
- Commodity
- gas
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- MNE
Resource scope
- Estimate type
- resource
- Reporting standards
- other
- QP Signed
- Yes
- Qualified person names
- Mr Hongfeng Wu
- Resource group id
- resource:c21346805045e04edc33
- Deposit or zone
- Yarra Lead
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- inferred
- Contained Metal
- 199
- Contained Unit
- pj
Prior Estimate
- Resource Date
- 2026-09-30
Location
- Loc. Confidence
- medium
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-05T00:00:00.000Z
Reasoning: The mean prospective gas resource for Yarra Lead is significant and independently assessed, benefiting from new 3D seismic data, but its status as a lead due to a data gap remains a factor.
Positive factors
- Significant mean prospective gas resource
- Independent assessment
- New 3D seismic improved definition
Negative factors
- Prospective (undiscovered) resource
- Remains a lead due to data gap
Evidence · table
“199”
Context: Yarra Lead
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
No QP/CP Disclosurenegative
No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience.
Why it applies: no Qualified or Competent Person is named anywhere in the release
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
inferredEP 494 · condensateContained Metal: 1.53Contained Unit: mmbblView all detailsHide details
Identity
- Project
- EP 494
- Commodity
- condensate
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- MNE
Resource scope
- Estimate type
- resource
- Reporting standards
- other
- QP Signed
- Yes
- Qualified person names
- Mr Hongfeng Wu
- Resource group id
- resource:cf47f4f88fd55445197f
- Deposit or zone
- BTD Prospect
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- inferred
- Contained Metal
- 1.53
- Contained Unit
- mmbbl
Prior Estimate
- Resource Date
- 2026-09-30
Location
- Loc. Confidence
- medium
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-05T00:00:00.000Z
Reasoning: The 1U estimate for BTD Prospect indicates a prospective condensate resource, independently assessed and benefiting from new seismic data, representing a low-end estimate.
Positive factors
- Prospective condensate resource identified
- Independent assessment
- New seismic data improved confidence
Negative factors
- Prospective (undiscovered) resource
- Lowest confidence category (1U)
Evidence · table
“1.53”
Context: BTD Prospect
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
No QP/CP Disclosurenegative
No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience.
Why it applies: no Qualified or Competent Person is named anywhere in the release
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
inferredEP 494 · condensateContained Metal: 4.9Contained Unit: mmbblView all detailsHide details
Identity
- Project
- EP 494
- Commodity
- condensate
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- MNE
Resource scope
- Estimate type
- resource
- Reporting standards
- other
- QP Signed
- Yes
- Qualified person names
- Mr Hongfeng Wu
- Resource group id
- resource:cf47f4f88fd55445197f
- Deposit or zone
- BTD Prospect
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- inferred
- Contained Metal
- 4.9
- Contained Unit
- mmbbl
Prior Estimate
- Resource Date
- 2026-09-30
Location
- Loc. Confidence
- medium
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-05T00:00:00.000Z
Reasoning: The 2U estimate for BTD Prospect indicates a material prospective condensate resource, independently assessed and benefiting from new seismic data, suggesting strong potential.
Positive factors
- Material prospective condensate resource
- Independent assessment
- New seismic data improved confidence
Negative factors
- Prospective (undiscovered) resource
- Mid-range confidence category (2U)
Evidence · table
“4.90”
Context: BTD Prospect
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
No QP/CP Disclosurenegative
No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience.
Why it applies: no Qualified or Competent Person is named anywhere in the release
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
inferredEP 494 · condensateContained Metal: 14.15Contained Unit: mmbblView all detailsHide details
Identity
- Project
- EP 494
- Commodity
- condensate
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- MNE
Resource scope
- Estimate type
- resource
- Reporting standards
- other
- QP Signed
- Yes
- Qualified person names
- Mr Hongfeng Wu
- Resource group id
- resource:cf47f4f88fd55445197f
- Deposit or zone
- BTD Prospect
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- inferred
- Contained Metal
- 14.15
- Contained Unit
- mmbbl
Prior Estimate
- Resource Date
- 2026-09-30
Location
- Loc. Confidence
- medium
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-05T00:00:00.000Z
Reasoning: The 3U estimate for BTD Prospect highlights a large prospective condensate resource, independently assessed and supported by new seismic data, indicating significant upside potential.
Positive factors
- Large prospective condensate resource
- Independent assessment
- New seismic data improved confidence
Negative factors
- Prospective (undiscovered) resource
- Highest confidence category (3U) for prospective
Evidence · table
“14.15”
Context: BTD Prospect
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
No QP/CP Disclosurenegative
No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience.
Why it applies: no Qualified or Competent Person is named anywhere in the release
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
inferredEP 494 · condensateContained Metal: 6.81Contained Unit: mmbblView all detailsHide details
Identity
- Project
- EP 494
- Commodity
- condensate
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- MNE
Resource scope
- Estimate type
- resource
- Reporting standards
- other
- QP Signed
- Yes
- Qualified person names
- Mr Hongfeng Wu
- Resource group id
- resource:cf47f4f88fd55445197f
- Deposit or zone
- BTD Prospect
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- inferred
- Contained Metal
- 6.81
- Contained Unit
- mmbbl
Prior Estimate
- Resource Date
- 2026-09-30
Location
- Loc. Confidence
- medium
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-05T00:00:00.000Z
Reasoning: The mean prospective condensate resource for BTD Prospect is significant and independently assessed, benefiting from new seismic data, indicating high materiality.
Positive factors
- Significant mean prospective condensate resource
- Independent assessment
- New seismic data improved confidence
Negative factors
- Prospective (undiscovered) resource
Evidence · table
“6.81”
Context: BTD Prospect
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
No QP/CP Disclosurenegative
No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience.
Why it applies: no Qualified or Competent Person is named anywhere in the release
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
inferredEP 494 · condensateContained Metal: 0.45Contained Unit: mmbblView all detailsHide details
Identity
- Project
- EP 494
- Commodity
- condensate
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- MNE
Resource scope
- Estimate type
- resource
- Reporting standards
- other
- QP Signed
- Yes
- Qualified person names
- Mr Hongfeng Wu
- Resource group id
- resource:440c64fd841124b8fa67
- Deposit or zone
- Gadee East Prospect
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- inferred
- Contained Metal
- 0.45
- Contained Unit
- mmbbl
Prior Estimate
- Resource Date
- 2026-09-30
Location
- Loc. Confidence
- medium
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-05T00:00:00.000Z
Reasoning: The 1U estimate for Gadee East Prospect represents a prospective condensate resource, independently assessed and de-risked by new 3D seismic data, indicating potential.
Positive factors
- Prospective condensate resource identified
- Independent assessment
- New 3D seismic de-risked target
Negative factors
- Prospective (undiscovered) resource
- Lowest confidence category (1U)
Evidence · table
“0.45”
Context: Gadee East Prospect
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
No QP/CP Disclosurenegative
No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience.
Why it applies: no Qualified or Competent Person is named anywhere in the release
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
inferredEP 494 · condensateContained Metal: 1.13Contained Unit: mmbblView all detailsHide details
Identity
- Project
- EP 494
- Commodity
- condensate
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- MNE
Resource scope
- Estimate type
- resource
- Reporting standards
- other
- QP Signed
- Yes
- Qualified person names
- Mr Hongfeng Wu
- Resource group id
- resource:440c64fd841124b8fa67
- Deposit or zone
- Gadee East Prospect
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- inferred
- Contained Metal
- 1.13
- Contained Unit
- mmbbl
Prior Estimate
- Resource Date
- 2026-09-30
Location
- Loc. Confidence
- medium
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-05T00:00:00.000Z
Reasoning: The 2U estimate for Gadee East Prospect indicates a material prospective condensate resource, independently assessed and benefiting from new 3D seismic data, suggesting strong potential.
Positive factors
- Material prospective condensate resource
- Independent assessment
- New 3D seismic de-risked target
Negative factors
- Prospective (undiscovered) resource
- Mid-range confidence category (2U)
Evidence · table
“1.13”
Context: Gadee East Prospect
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
No QP/CP Disclosurenegative
No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience.
Why it applies: no Qualified or Competent Person is named anywhere in the release
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
inferredEP 494 · condensateContained Metal: 2.55Contained Unit: mmbblView all detailsHide details
Identity
- Project
- EP 494
- Commodity
- condensate
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- MNE
Resource scope
- Estimate type
- resource
- Reporting standards
- other
- QP Signed
- Yes
- Qualified person names
- Mr Hongfeng Wu
- Resource group id
- resource:440c64fd841124b8fa67
- Deposit or zone
- Gadee East Prospect
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- inferred
- Contained Metal
- 2.55
- Contained Unit
- mmbbl
Prior Estimate
- Resource Date
- 2026-09-30
Location
- Loc. Confidence
- medium
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-05T00:00:00.000Z
Reasoning: The 3U estimate for Gadee East Prospect highlights a large prospective condensate resource, independently assessed and supported by new 3D seismic data, indicating significant upside potential.
Positive factors
- Large prospective condensate resource
- Independent assessment
- New 3D seismic de-risked target
Negative factors
- Prospective (undiscovered) resource
- Highest confidence category (3U) for prospective
Evidence · table
“2.55”
Context: Gadee East Prospect
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
No QP/CP Disclosurenegative
No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience.
Why it applies: no Qualified or Competent Person is named anywhere in the release
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
inferredEP 494 · condensateContained Metal: 1.36Contained Unit: mmbblView all detailsHide details
Identity
- Project
- EP 494
- Commodity
- condensate
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- MNE
Resource scope
- Estimate type
- resource
- Reporting standards
- other
- QP Signed
- Yes
- Qualified person names
- Mr Hongfeng Wu
- Resource group id
- resource:440c64fd841124b8fa67
- Deposit or zone
- Gadee East Prospect
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- inferred
- Contained Metal
- 1.36
- Contained Unit
- mmbbl
Prior Estimate
- Resource Date
- 2026-09-30
Location
- Loc. Confidence
- medium
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-05T00:00:00.000Z
Reasoning: The mean prospective condensate resource for Gadee East Prospect is significant and independently assessed, benefiting from new 3D seismic data, indicating high materiality.
Positive factors
- Significant mean prospective condensate resource
- Independent assessment
- New 3D seismic de-risked target
Negative factors
- Prospective (undiscovered) resource
Evidence · table
“1.36”
Context: Gadee East Prospect
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
No QP/CP Disclosurenegative
No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience.
Why it applies: no Qualified or Competent Person is named anywhere in the release
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
inferredEP 494 · condensateContained Metal: 0.08Contained Unit: mmbblView all detailsHide details
Identity
- Project
- EP 494
- Commodity
- condensate
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- MNE
Resource scope
- Estimate type
- resource
- Reporting standards
- other
- QP Signed
- Yes
- Qualified person names
- Mr Hongfeng Wu
- Resource group id
- resource:5c63d219ad58a817604d
- Deposit or zone
- Gadee West Prospect
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- inferred
- Contained Metal
- 0.08
- Contained Unit
- mmbbl
Prior Estimate
- Resource Date
- 2026-09-30
Location
- Loc. Confidence
- medium
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-05T00:00:00.000Z
Reasoning: The 1U estimate for Gadee West Prospect represents a prospective condensate resource, independently assessed and de-risked by new 3D seismic data, though it is a smaller low-end estimate.
Positive factors
- Prospective condensate resource identified
- Independent assessment
- New 3D seismic de-risked target
Negative factors
- Prospective (undiscovered) resource
- Lowest confidence category (1U)
- Relatively smaller resource
Evidence · table
“0.08”
Context: Gadee West Prospect
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
No QP/CP Disclosurenegative
No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience.
Why it applies: no Qualified or Competent Person is named anywhere in the release
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
inferredEP 494 · condensateContained Metal: 0.22Contained Unit: mmbblView all detailsHide details
Identity
- Project
- EP 494
- Commodity
- condensate
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- MNE
Resource scope
- Estimate type
- resource
- Reporting standards
- other
- QP Signed
- Yes
- Qualified person names
- Mr Hongfeng Wu
- Resource group id
- resource:5c63d219ad58a817604d
- Deposit or zone
- Gadee West Prospect
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- inferred
- Contained Metal
- 0.22
- Contained Unit
- mmbbl
Prior Estimate
- Resource Date
- 2026-09-30
Location
- Loc. Confidence
- medium
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-05T00:00:00.000Z
Reasoning: The 2U estimate for Gadee West Prospect indicates a prospective condensate resource, independently assessed and benefiting from new 3D seismic data, though it is a smaller mid-range estimate.
Positive factors
- Prospective condensate resource identified
- Independent assessment
- New 3D seismic de-risked target
Negative factors
- Prospective (undiscovered) resource
- Mid-range confidence category (2U)
- Relatively smaller resource
Evidence · table
“0.22”
Context: Gadee West Prospect
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
No QP/CP Disclosurenegative
No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience.
Why it applies: no Qualified or Competent Person is named anywhere in the release
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
inferredEP 494 · condensateContained Metal: 0.58Contained Unit: mmbblView all detailsHide details
Identity
- Project
- EP 494
- Commodity
- condensate
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- MNE
Resource scope
- Estimate type
- resource
- Reporting standards
- other
- QP Signed
- Yes
- Qualified person names
- Mr Hongfeng Wu
- Resource group id
- resource:5c63d219ad58a817604d
- Deposit or zone
- Gadee West Prospect
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- inferred
- Contained Metal
- 0.58
- Contained Unit
- mmbbl
Prior Estimate
- Resource Date
- 2026-09-30
Location
- Loc. Confidence
- medium
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-05T00:00:00.000Z
Reasoning: The 3U estimate for Gadee West Prospect highlights a prospective condensate resource, independently assessed and supported by new 3D seismic data, though it is a smaller high-end estimate.
Positive factors
- Prospective condensate resource identified
- Independent assessment
- New 3D seismic de-risked target
Negative factors
- Prospective (undiscovered) resource
- Highest confidence category (3U) for prospective
- Relatively smaller resource
Evidence · table
“0.58”
Context: Gadee West Prospect
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
No QP/CP Disclosurenegative
No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience.
Why it applies: no Qualified or Competent Person is named anywhere in the release
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
inferredEP 494 · condensateContained Metal: 0.29Contained Unit: mmbblView all detailsHide details
Identity
- Project
- EP 494
- Commodity
- condensate
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- MNE
Resource scope
- Estimate type
- resource
- Reporting standards
- other
- QP Signed
- Yes
- Qualified person names
- Mr Hongfeng Wu
- Resource group id
- resource:5c63d219ad58a817604d
- Deposit or zone
- Gadee West Prospect
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- inferred
- Contained Metal
- 0.29
- Contained Unit
- mmbbl
Prior Estimate
- Resource Date
- 2026-09-30
Location
- Loc. Confidence
- medium
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-05T00:00:00.000Z
Reasoning: The mean prospective condensate resource for Gadee West Prospect is independently assessed and benefits from new 3D seismic data, indicating potential, despite being a smaller individual component.
Positive factors
- Prospective condensate resource identified
- Independent assessment
- New 3D seismic de-risked target
Negative factors
- Prospective (undiscovered) resource
- Relatively smaller resource
Evidence · table
“0.29”
Context: Gadee West Prospect
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
No QP/CP Disclosurenegative
No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience.
Why it applies: no Qualified or Competent Person is named anywhere in the release
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
inferredEP 494 · condensateContained Metal: 0.42Contained Unit: mmbblView all detailsHide details
Identity
- Project
- EP 494
- Commodity
- condensate
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- MNE
Resource scope
- Estimate type
- resource
- Reporting standards
- other
- QP Signed
- Yes
- Qualified person names
- Mr Hongfeng Wu
- Resource group id
- resource:c21346805045e04edc33
- Deposit or zone
- Yarra Lead
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- inferred
- Contained Metal
- 0.42
- Contained Unit
- mmbbl
Prior Estimate
- Resource Date
- 2026-09-30
Location
- Loc. Confidence
- medium
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-05T00:00:00.000Z
Reasoning: The 1U estimate for Yarra Lead represents a prospective condensate resource, independently assessed and benefiting from new 3D seismic data, but its status as a lead due to a data gap reduces confidence.
Positive factors
- Prospective condensate resource identified
- Independent assessment
- New 3D seismic improved definition
Negative factors
- Prospective (undiscovered) resource
- Lowest confidence category (1U)
- Remains a lead due to data gap
Evidence · table
“0.42”
Context: Yarra Lead
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
No QP/CP Disclosurenegative
No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience.
Why it applies: no Qualified or Competent Person is named anywhere in the release
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
inferredEP 494 · condensateContained Metal: 1.2Contained Unit: mmbblView all detailsHide details
Identity
- Project
- EP 494
- Commodity
- condensate
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- MNE
Resource scope
- Estimate type
- resource
- Reporting standards
- other
- QP Signed
- Yes
- Qualified person names
- Mr Hongfeng Wu
- Resource group id
- resource:c21346805045e04edc33
- Deposit or zone
- Yarra Lead
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- inferred
- Contained Metal
- 1.2
- Contained Unit
- mmbbl
Prior Estimate
- Resource Date
- 2026-09-30
Location
- Loc. Confidence
- medium
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-05T00:00:00.000Z
Reasoning: The 2U estimate for Yarra Lead indicates a prospective condensate resource, independently assessed and benefiting from new 3D seismic data, but its status as a lead due to a data gap reduces confidence.
Positive factors
- Prospective condensate resource identified
- Independent assessment
- New 3D seismic improved definition
Negative factors
- Prospective (undiscovered) resource
- Mid-range confidence category (2U)
- Remains a lead due to data gap
Evidence · table
“1.20”
Context: Yarra Lead
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
No QP/CP Disclosurenegative
No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience.
Why it applies: no Qualified or Competent Person is named anywhere in the release
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
inferredEP 494 · condensateContained Metal: 2.91Contained Unit: mmbblView all detailsHide details
Identity
- Project
- EP 494
- Commodity
- condensate
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- MNE
Resource scope
- Estimate type
- resource
- Reporting standards
- other
- QP Signed
- Yes
- Qualified person names
- Mr Hongfeng Wu
- Resource group id
- resource:c21346805045e04edc33
- Deposit or zone
- Yarra Lead
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- inferred
- Contained Metal
- 2.91
- Contained Unit
- mmbbl
Prior Estimate
- Resource Date
- 2026-09-30
Location
- Loc. Confidence
- medium
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-05T00:00:00.000Z
Reasoning: The 3U estimate for Yarra Lead highlights a prospective condensate resource, independently assessed and supported by new 3D seismic data, but its status as a lead due to a data gap reduces confidence.
Positive factors
- Prospective condensate resource identified
- Independent assessment
- New 3D seismic improved definition
Negative factors
- Prospective (undiscovered) resource
- Highest confidence category (3U) for prospective
- Remains a lead due to data gap
Evidence · table
“2.91”
Context: Yarra Lead
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
No QP/CP Disclosurenegative
No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience.
Why it applies: no Qualified or Competent Person is named anywhere in the release
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
inferredEP 494 · condensateContained Metal: 1.5Contained Unit: mmbblView all detailsHide details
Identity
- Project
- EP 494
- Commodity
- condensate
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- MNE
Resource scope
- Estimate type
- resource
- Reporting standards
- other
- QP Signed
- Yes
- Qualified person names
- Mr Hongfeng Wu
- Resource group id
- resource:c21346805045e04edc33
- Deposit or zone
- Yarra Lead
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- inferred
- Contained Metal
- 1.5
- Contained Unit
- mmbbl
Prior Estimate
- Resource Date
- 2026-09-30
Location
- Loc. Confidence
- medium
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-05T00:00:00.000Z
Reasoning: The mean prospective condensate resource for Yarra Lead is significant and independently assessed, benefiting from new 3D seismic data, but its status as a lead due to a data gap remains a factor.
Positive factors
- Significant mean prospective condensate resource
- Independent assessment
- New 3D seismic improved definition
Negative factors
- Prospective (undiscovered) resource
- Remains a lead due to data gap
Evidence · table
“1.50”
Context: Yarra Lead
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
No QP/CP Disclosurenegative
No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience.
Why it applies: no Qualified or Competent Person is named anywhere in the release
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
inferredEP 494 · oilContained Metal: 3Contained Unit: mmbblView all detailsHide details
Identity
- Project
- EP 494
- Commodity
- oil
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- MNE
Resource scope
- Estimate type
- resource
- Reporting standards
- other
- QP Signed
- Yes
- Qualified person names
- Mr Hongfeng Wu
- Resource group id
- resource:5c63d219ad58a817604d
- Deposit or zone
- Gadee West Prospect
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- inferred
- Contained Metal
- 3
- Contained Unit
- mmbbl
Prior Estimate
- Resource Date
- 2026-09-30
Location
- Loc. Confidence
- medium
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-05T00:00:00.000Z
Reasoning: The 1U estimate for Gadee West Prospect represents a prospective oil resource, independently assessed and de-risked by new 3D seismic data, though it is a smaller low-end estimate.
Positive factors
- Prospective oil resource identified
- Independent assessment
- New 3D seismic de-risked target
Negative factors
- Prospective (undiscovered) resource
- Lowest confidence category (1U)
- Relatively smaller resource
Evidence · table
“3.0”
Context: Gadee West Prospect
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
No QP/CP Disclosurenegative
No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience.
Why it applies: no Qualified or Competent Person is named anywhere in the release
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
inferredEP 494 · oilContained Metal: 11Contained Unit: mmbblView all detailsHide details
Identity
- Project
- EP 494
- Commodity
- oil
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- MNE
Resource scope
- Estimate type
- resource
- Reporting standards
- other
- QP Signed
- Yes
- Qualified person names
- Mr Hongfeng Wu
- Resource group id
- resource:5c63d219ad58a817604d
- Deposit or zone
- Gadee West Prospect
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- inferred
- Contained Metal
- 11
- Contained Unit
- mmbbl
Prior Estimate
- Resource Date
- 2026-09-30
Location
- Loc. Confidence
- medium
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-05T00:00:00.000Z
Reasoning: The 2U estimate for Gadee West Prospect indicates a prospective oil resource, independently assessed and benefiting from new 3D seismic data, though it is a smaller mid-range estimate.
Positive factors
- Prospective oil resource identified
- Independent assessment
- New 3D seismic de-risked target
Negative factors
- Prospective (undiscovered) resource
- Mid-range confidence category (2U)
- Relatively smaller resource
Evidence · table
“11.0”
Context: Gadee West Prospect
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
No QP/CP Disclosurenegative
No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience.
Why it applies: no Qualified or Competent Person is named anywhere in the release
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
inferredEP 494 · oilContained Metal: 30Contained Unit: mmbblView all detailsHide details
Identity
- Project
- EP 494
- Commodity
- oil
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- MNE
Resource scope
- Estimate type
- resource
- Reporting standards
- other
- QP Signed
- Yes
- Qualified person names
- Mr Hongfeng Wu
- Resource group id
- resource:5c63d219ad58a817604d
- Deposit or zone
- Gadee West Prospect
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- inferred
- Contained Metal
- 30
- Contained Unit
- mmbbl
Prior Estimate
- Resource Date
- 2026-09-30
Location
- Loc. Confidence
- medium
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-05T00:00:00.000Z
Reasoning: The 3U estimate for Gadee West Prospect highlights a prospective oil resource, independently assessed and supported by new 3D seismic data, though it is a smaller high-end estimate.
Positive factors
- Prospective oil resource identified
- Independent assessment
- New 3D seismic de-risked target
Negative factors
- Prospective (undiscovered) resource
- Highest confidence category (3U) for prospective
- Relatively smaller resource
Evidence · table
“30.0”
Context: Gadee West Prospect
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
No QP/CP Disclosurenegative
No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience.
Why it applies: no Qualified or Competent Person is named anywhere in the release
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
inferredEP 494 · oilContained Metal: 15Contained Unit: mmbblView all detailsHide details
Identity
- Project
- EP 494
- Commodity
- oil
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- MNE
Resource scope
- Estimate type
- resource
- Reporting standards
- other
- QP Signed
- Yes
- Qualified person names
- Mr Hongfeng Wu
- Resource group id
- resource:5c63d219ad58a817604d
- Deposit or zone
- Gadee West Prospect
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- inferred
- Contained Metal
- 15
- Contained Unit
- mmbbl
Prior Estimate
- Resource Date
- 2026-09-30
Location
- Loc. Confidence
- medium
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-05T00:00:00.000Z
Reasoning: The mean prospective oil resource for Gadee West Prospect is independently assessed and benefits from new 3D seismic data, indicating potential, despite being a smaller individual component.
Positive factors
- Prospective oil resource identified
- Independent assessment
- New 3D seismic de-risked target
Negative factors
- Prospective (undiscovered) resource
- Relatively smaller resource
Evidence · table
“15.0”
Context: Gadee West Prospect
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
No QP/CP Disclosurenegative
No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience.
Why it applies: no Qualified or Competent Person is named anywhere in the release
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
inferredEP 494 · oilContained Metal: 5.4Contained Unit: mmbblView all detailsHide details
Identity
- Project
- EP 494
- Commodity
- oil
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- MNE
Resource scope
- Estimate type
- resource
- Reporting standards
- other
- QP Signed
- Yes
- Qualified person names
- Mr Hongfeng Wu
- Resource group id
- resource:c21346805045e04edc33
- Deposit or zone
- Yarra Lead
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- inferred
- Contained Metal
- 5.4
- Contained Unit
- mmbbl
Prior Estimate
- Resource Date
- 2026-09-30
Location
- Loc. Confidence
- medium
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-05T00:00:00.000Z
Reasoning: The 1U estimate for Yarra Lead represents a prospective oil resource, independently assessed and benefiting from new 3D seismic data, but its status as a lead due to a data gap reduces confidence.
Positive factors
- Prospective oil resource identified
- Independent assessment
- New 3D seismic improved definition
Negative factors
- Prospective (undiscovered) resource
- Lowest confidence category (1U)
- Remains a lead due to data gap
Evidence · table
“5.4”
Context: Yarra Lead
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
No QP/CP Disclosurenegative
No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience.
Why it applies: no Qualified or Competent Person is named anywhere in the release
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
inferredEP 494 · oilContained Metal: 18.4Contained Unit: mmbblView all detailsHide details
Identity
- Project
- EP 494
- Commodity
- oil
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- MNE
Resource scope
- Estimate type
- resource
- Reporting standards
- other
- QP Signed
- Yes
- Qualified person names
- Mr Hongfeng Wu
- Resource group id
- resource:c21346805045e04edc33
- Deposit or zone
- Yarra Lead
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- inferred
- Contained Metal
- 18.4
- Contained Unit
- mmbbl
Prior Estimate
- Resource Date
- 2026-09-30
Location
- Loc. Confidence
- medium
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-05T00:00:00.000Z
Reasoning: The 2U estimate for Yarra Lead indicates a prospective oil resource, independently assessed and benefiting from new 3D seismic data, but its status as a lead due to a data gap reduces confidence.
Positive factors
- Prospective oil resource identified
- Independent assessment
- New 3D seismic improved definition
Negative factors
- Prospective (undiscovered) resource
- Mid-range confidence category (2U)
- Remains a lead due to data gap
Evidence · table
“18.4”
Context: Yarra Lead
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
No QP/CP Disclosurenegative
No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience.
Why it applies: no Qualified or Competent Person is named anywhere in the release
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
inferredEP 494 · oilContained Metal: 52.3Contained Unit: mmbblView all detailsHide details
Identity
- Project
- EP 494
- Commodity
- oil
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- MNE
Resource scope
- Estimate type
- resource
- Reporting standards
- other
- QP Signed
- Yes
- Qualified person names
- Mr Hongfeng Wu
- Resource group id
- resource:c21346805045e04edc33
- Deposit or zone
- Yarra Lead
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- inferred
- Contained Metal
- 52.3
- Contained Unit
- mmbbl
Prior Estimate
- Resource Date
- 2026-09-30
Location
- Loc. Confidence
- medium
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-05T00:00:00.000Z
Reasoning: The 3U estimate for Yarra Lead highlights a prospective oil resource, independently assessed and supported by new 3D seismic data, but its status as a lead due to a data gap reduces confidence.
Positive factors
- Prospective oil resource identified
- Independent assessment
- New 3D seismic improved definition
Negative factors
- Prospective (undiscovered) resource
- Highest confidence category (3U) for prospective
- Remains a lead due to data gap
Evidence · table
“52.3”
Context: Yarra Lead
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
No QP/CP Disclosurenegative
No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience.
Why it applies: no Qualified or Competent Person is named anywhere in the release
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
inferredEP 494 · oilContained Metal: 25.1Contained Unit: mmbblView all detailsHide details
Identity
- Project
- EP 494
- Commodity
- oil
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- MNE
Resource scope
- Estimate type
- resource
- Reporting standards
- other
- QP Signed
- Yes
- Qualified person names
- Mr Hongfeng Wu
- Resource group id
- resource:c21346805045e04edc33
- Deposit or zone
- Yarra Lead
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- inferred
- Contained Metal
- 25.1
- Contained Unit
- mmbbl
Prior Estimate
- Resource Date
- 2026-09-30
Location
- Loc. Confidence
- medium
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-05T00:00:00.000Z
Reasoning: The mean prospective oil resource for Yarra Lead is significant and independently assessed, benefiting from new 3D seismic data, but its status as a lead due to a data gap remains a factor.
Positive factors
- Significant mean prospective oil resource
- Independent assessment
- New 3D seismic improved definition
Negative factors
- Prospective (undiscovered) resource
- Remains a lead due to data gap
Evidence · table
“25.1”
Context: Yarra Lead
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
No QP/CP Disclosurenegative
No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience.
Why it applies: no Qualified or Competent Person is named anywhere in the release
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
How Atlas produces this analysis
Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.