On 12 December 2017 Melbana Energy Ltd reported that it has entered into a farm-in option agreement with Total SA and Santos Ltd for Melbanaâs 100% owned exploration permit WA-488-P, located in the Bonaparte Basin. The permit contains the Beehive Prospect, which requires further seismic before the scheduled drill date by 21 March 2019 to test the structure. Under the agreement, Total and Santos are to fully fund a planned 400 sq km 3D seismic survey over the Beehive Prospect in return for an option to acquire an 80% participating interest in the permit (together or individually split). If the option is exercised, Melbana will retain 20% interest and be fully carried for the first well, which is likely to target the Beehive Structure. If a commercial discovery is made, Melbana will repay the carried funding from the cash flow post full field development, which, at 20% interest, would equate to approximately AUD 5 million based on a drill cost of AUD 20 million.  Melbana reports that the seismic survey planning has already commenced and is estimated to cost around AUD 5 million. With the potential of de-risking of the Beehive Prospect, well planning can commence to determine the preferred surface location. Melbana, previously MEO Australia Ltd, through its wholly owned subsidiary Finniss Offshore Exploration Pty Ltd, launched a farm-out of WA-488-P following its award as part of the 2012 Federal Offshore Acreage Release. Between 10 and 80% interest in the permit was made available with conditions and equity options always dependent upon the completion of seismic reprocessing and assessment of key elements within the permit. In December 2015, Melbana received approval to suspend/extend WA-488-P to facilitate additional seismic reprocessing and seismic inversion of 150 km 2D broadband data to de-risk the Beehive Prospect. After being completed by Q4 2017, Melbana reported that significant data quality improvements had been noted, providing better definition of the reef edge and in the overlying shale seal sequence in the Beehive Structure.  The Beehive 1 well will target the shallow, substantial Beehive Prospect in a new play type with global analogues. The primary target is thought to be a Carboniferous Carbonate build up play, which is analogous to the Ungani and Tengiz discoveries. The carbonate platform has been interpreted by Melbana to be approximately 18 km across with a mapped closure around 140 sq km. As a secondary objective the prospect contains an Ordovician Buried Hill play. Prospective recoverable resources have been estimated, with a Best Estimate of 558 MMboe and 305 MMboe for the Carboniferous Carbonate and Ordovician Buried Hill plays respectively.Â  If a discovery is made, Melbana reports that development plans could include an FPSO or pipeline options to existing infrastructure including Ichthys and Blacktip developments. Melbana entered WA-488-P on 18 February 2014 by means of an Option Agreement with Rex International Holding, for a 30% interest in the block. By 20 October 2014, Melbana had reached a settlement to allow Rex to withdraw from the permit due to the declining industry market and Rexâs move to focus on it key assets in Norway and Oman.  Â  Â  Â 
Australia (Bonaparte B.) (It's a petroleum rights. Please summarize by yourself). In IHS database: WA-488-P op. by FINNISS (100.0%) to be check.