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Macallum New Energy Limited (ASX:MNE)

ALERT: Price-sensitive ASX Announcement for MNE
Current share price for MNE : $0.145 0.005 (3.57%)+
Announcement
Release
3 Aug 2026 8:31AM
Price at Release
$0.140
Full Release
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Summary
Macallum New Energy Limited announced the completion of a maiden Prospective Resource Estimate for the Aberfeldy Prospect, located within the company's 100%-owned EP-494 in the onshore North Perth Basin. The independent certification was carried out by Molyneux Advisors Pty Ltd. The estimate included two scenarios: an oil-bearing scenario with a mean prospective resource of 52.6 million barrels of oil and 54 petajoules of gas, and a gas-bearing scenario with 26.2 million barrels of oil and 142 petajoules of gas. The Aberfeldy Prospect is a fault-bound trap in the Jurassic-aged Yarragadee Formation. Macallum New Energy has also completed two seismic programs and expanded its evaluation through the reprocessing of old seismic lines, leading to the identification of new prospects and leads. The company plans to move forward with a drilling campaign by late 2027, aiming to enhance its exploration portfolio further.
Key Points
  • Maiden Prospective Resource Estimate for Aberfeldy Prospect completed.
  • Estimate includes oil and gas scenarios within EP-494.
  • Independent certification by Molyneux Advisors Pty Ltd.
  • Aberfeldy Prospect is a fault-bound trap in the Jurassic Yarragadee Formation.
  • Mean prospective resources: 52.6 MMbbl oil and 54 PJ gas (oil scenario).
  • Mean prospective resources: 26.2 MMbbl oil and 142 PJ gas (gas scenario).
  • Successful seismic programs and expanded evaluation of EP-494 and EP-511.
  • Identification of new prospects and leads.
  • Plans for a drilling campaign by late 2027.
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.