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Melbana Energy - Alameda-1 Significant oil pay defined in Marti structure


Highlights

- Approximately 62 mMD / 52 mTVD of net pay in aggregate across a logged gross reservoir interval of approximately 286 mMD / 240 mTVD in the Marti structure, the deepest objective in Alameda-1
- Aggregate and updated interpreted net pay intervals across the three independent structures encountered whilst drilling the Alameda-1 exploration well now total approximately 300 mMD / 278 mTVD from gross reservoir intervals totalling approximately 2,155 mMD / 2,022 mTVD
- Logging data now being incorporated with other geological data to prepare an updated resource estimate
- The volume of oil in place from the first (Amistad) structure has been independently estimated to contain 2.5 billion barrels of oil in place with a combined Prospective Resource of 119 million barrels of oil (100% share, mean estimate)

Melbana Energy’s Executive Chairman, Andrew Purcell, commented: “The Alameda-1 exploration well has confirmed the presence of oil across significant intervals in three structures (with potential for upside, given the two larger structures - Alameda and Marti – were intersected a long way down dip from their crests). In any case, the logging of these three intervals has allowed us to estimate a substantial net hydrocarbon pay of 278 mTVD in aggregate.

This is an extremely good result and easily exceeds our predrill expectations.

We are now integrating this information and will include the results from the sampling and testing programme into an updated resource assessment which will be provided to the independent reserves certifier. We look forward to releasing the results of their assessment of the total oil in place for the three structures encountered by the Alameda-1 exploration well in due course.” 

For more information, download the attached PDF.

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