Stock analysis veteran and lover of the oil and gas game, Peter Strachan, is putting aside the Bloomberg terminal and picking up the microphone for another instalment of The Wildcatter Podcast.
In this latest episode, Peter interviews Andrew Purcell chairman of Melbana (ASX:MAY).
ASX-listed Melbana Energy has a market capitalisation of just under $20m and holds about $2m of cash at-bank at the time of our interview.
The company holds a 60 per cent interest in permit WA-488-P in Australia’s Bonaparte Gulf alongside Santos, which has agreed to farm-in for a 40 per cent interest and has until the 4th of December 2019 to decide whether to take up a further option to earn a total 80 per cent interest, or let the permit return to 100 per cent ownership by Melbana.
WA-488-P hosts the Beehive prospect, which is well defined by 3D seismic survey. The company estimates that Beehive has the potential to yield a prospective resource of 388 million barrels…
