Melbana Energy Limited (ASX: MAY) advises that the National Offshore Petroleum Titles Administrator has approved a 20 month suspension of the permit conditions in respect of the Permit Year 3 work program (with a corresponding 20 month extension of the permit term) for WA-488-P.
As a result, Permit Year 3 will end on 21 August 2023 and the permit term will end on 21 May 2025. Receipt of this approval satisfies one of the Conditions Precedent for the sale of WA-488-P1.
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