Macallum New Energy Limited
Resource Estimate
MNE: EP 494 Prospective Resources Update
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.