Executive Changes

MELBOURNE, AUSTRALIA (12 January 2018)

Melbana Energy Limited (ASX: MAY) ("Melbana" or "the Company") advises that Mr. Peter Stickland has tendered his resignation as Managing Director of Melbana for health reasons effective immediately. Mr. Stickland will continue to support the Company in a part-time capacity and to that end has been invited to remain on the Board as non-executive director and has agreed to consult to the Company as required.

The Company is pleased to advise that Mr. Robert Zammit, currently Executive Manager, Commercial & Business Development, has been appointed Chief Executive Officer of Melbana effective 12 January 2018.

The major terms of employment for Mr. Zammit are as follows:

Commencement:

12 January 2018

Term:

Permanent

Base salary:

$300,000 per annum (inclusive of superannuation)

Incentive bonus:

Up to 33.3% of the base salary at the discretion of the board at the end of each year

dependent on the success in meeting key deliverables

Notice Period:

3 months by either party

Mr. Zammit has over 25 years international experience in the oil and gas industry. Prior to joining Melbana in 2011 Mr. Zammit had an extensive international career with ExxonMobil, where he has worked in a variety of commercial and business development roles in Australia, Europe, Asia and the USA. In his role at Melbana Energy, Mr. Zammit has had responsibility for all the commercial and business development activities of the Company and was instrumental in the recent transaction for the Beehive prospect with Total and Santos.

Melbana Energy's Chairman, Andrew Purcell said:

"We are very pleased to appoint Robert Zammit to the role of Chief Executive Officer, given his skills, experience and proven business development and commercial track record as evidenced by the recent transaction for the Beehive prospect. We accept Peter's resignation with regret, but fully understanding his desire to spend more time with his family. We are pleased that he will be continuing to support the company in both a non-executive director and consulting capacity.

Melbana has an active year ahead, with drilling commencing in New Zealand this month and drilling planned in Cuba from mid-2018. The Company will also be focused on achieving a range of value adding activities, including a farmout of its Cuban project as well as a number of asset-based and corporate business development initiatives".

Andrew Purcell

Chairman of the Board

Melbana Energy Limited

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Melbana Energy Limited published this content on 12 January 2018 and is solely responsible for the information contained herein.
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