Highlights
* Drilling of the Alameda-1 well stopped at 3,916 metres measured depth (mMD) / 3,694 metres true vertical depth (mTVD) (predrill target total depth was 3,740 mTVD)
* Continuous excellent oil shows while drilling over a gross interval of almost 300 mMD / 245 mTVD in this objective alone, accompanied by the highest pressures encountered to date in this well
* A further significant influx of oil and gas into the well bore and increased pressure made calling total depth the prudent course of action, despite not having reached the bottom of the potential reservoir section
* Drilling operations are now preparing to undertake electric logging which, depending on results, is currently expected to be followed by flow testing
Melbana Energy’s Executive Chairman, Andrew Purcell, commented: “We’ve reached the end of the drilling phase of the Alameda-1 well – a challenging but rewarding journey, to be sure. Yesterday we were prepared to keep drilling ahead beyond the target depth given we were still in the reservoir, if it could be done safely given the rapid build up in pressure, but when this looked like encroaching on our safety margins the decision to call total depth was made for us. In any case, 300 metres of highly energised interval (the most highly energised of the entire well) with excellent oil indications intersected in this objective gives us a total of three significant intervals in this first well.”
“Whilst we are all very excited about the potential scale of what we’ve encountered so far, the current section needs to be confirmed by wireline logging to determine the net pay, followed by flow testing to determine the potential productivity of this and the other intervals encountered to date to better understand Block 9’s full potential.”
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