Melbana Energy Ltd.’s application for a 12-month suspension of the work tied to its permit for Petroleum Exploration Permit WA-488-P in Australia has been approved by the National Offshore Petroleum Titles Administrator, according to a statement from the company.

Permit Year 3 now ends on December 21, 2021 and the permit term will end on December 21, 2023. WA-488-P contains the giant Beehive prospect, which has been independently assessed to have a prospective resource of 388 million barrels of oil equivalent. A 3D seismic survey has been completed over the prospect and considerable progress has been made on planning and permitting for an exploration well, Melbana said in a statement.

“We will use this extra time to continue to evaluate the 3D seismic results and

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