Macallum Group Ltd completed the acquisition of additional interest in exploration permit EP 494, located in the Perth Basin, on 15 June 2018.Â  Macallum has acquired 50% interest from previous joint venture partner Southern Sky Energy Pty Ltd.   EP 494 was awarded solely to Southern Sky Energy on 8 May 2015.Â  Macallum acquired 50% interest and operatorship in October 2015.Â  The permit is scheduled to expire, or be renewed, in May 2022.  Under the remaining work commitments, 20 km new 2D seismic is required by May 2019, followed by an exploration well scheduled between May 2019 and May 2020.Â  No wells have been drilled within the permit term to date.  EP 494, which covers an area of 2,591 sq km, was awarded on 8 May 2015.Â  With Southern Skyâs withdrawal complete, Macallum Group Ltd now holds 100% interest and operatorship.
Macallum Group Ltd completed the acquisition of additional interest in exploration permit EP 494, located in the Perth Basin, on 15 June 2018.  Macallum has acquired 50% interest from previous joint venture partner Southern Sky Energy Pty Ltd. EP 494 was awarded solely to Southern Sky Energy on 8 May 2015. 