Macallum New Energy Limited (ASX:MNE)

ALERT: Price-sensitive ASX Announcement for MNE

Current share price for MNE : $0.158 -0.028 (-14.86%)⁺

Announcement

Successful Completion of Barberton 3D Seismic Survey

Release

6 May 2026 8:36AM

Price at Release

$0.185

Full Release

Summary

Macallum New Energy Limited announced the successful completion of the Barberton 3D seismic survey within their exploration permit EP-494 in the onshore North Perth Basin. Conducted by Terrex Pty Ltd, the survey covered 110 square kilometers and targeted two Jurassic gas leads, Yarra and Gadee. This project marks a significant milestone in MNE's data-driven exploration strategy, utilizing GeoPulse seismic sources for the first time in Western Australia to minimize environmental impact and improve access. Data processing will be handled by Velseis Processing Pty Ltd, with fast-track results due by late June and final outputs in the third quarter. The company plans to commence the Condor 2D seismic survey shortly, reflecting their ongoing efforts to explore large gas prospects in the Perth Basin.

Key Points

Successful completion of Barberton 3D seismic survey in EP-494.
Survey covered 110 km2 targeting Yarra and Gadee gas leads.
First use of GeoPulse seismic sources in Western Australia.
Data processing by Velseis Processing Pty Ltd with results expected in late June.
Condor 2D seismic survey to commence around 20 May 2026.

IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.