• 37% increase in Prospective Gas Resource to 2,857 Bcf
• 81% increase in Prospective Oil Resource to 78 MMbbl
• Hadrosaurus lead matured to Prospect status

Melbana Energy Limited (ASX: MAY) announced an update to the prospective resource estimates for its AC/P70 exploration permit located in the Timor Sea offshore northwestern Australia. The key highlights include:- Advanced geophysical analyses resulted in a 37% increase in the Prospective Gas Resource from 2,754 to 2,857 Bcf (unrisked gross best estimate) and an 81% increase in the Prospective Oil Resource from 43 MMbbl to 78 MMbbl (unrisked gross best estimate).- The Hadrosaurus lead has been matured to Prospect status based on the geophysical analyses.- The Contingent Resource remains unchanged at 276 Bcf of gas and 34 MMbbl of oil (unrisked gross best estimate) associated with the undeveloped Vesta and Swan oil and gas fields.- Melbana has engaged an advisor to assist with a farmout process aimed at finding a suitably qualified partner to fund the forward work program, which is expected to conclude in Q4 2025.- The increased scale of the Prospective and Contingent Resources, combined with the importance of gas as a transition fuel and the limited number of new offshore exploration opportunities, has heightened interest in the farmout process.

Melbana has not provided any high-importance, price-sensitive forward-looking financial metrics or other company-specific metrics in the announcement.

Melbana has not provided a specific outlook statement in the announcement, but the company has highlighted the increased scale of the Prospective and Contingent Resources and the heightened interest in the farmout process due to the importance of gas as a transition fuel and the limited number of new offshore exploration opportunities.