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Melbana Energy - Alameda 1 Independent Resources Assessment (Alameda Res)


* Independent reserves and resources expert McDaniel & Associates has made the following assessment of the second of three oil reservoirs encountered by the Alameda-1 exploration well in the Block 9 Production Sharing Contract (Block 9 PSC) area, onshore Cuba:

-- 2.3 billion barrels of oil in place
-- 148 million barrels of Prospective Resource
-- 56% chance of discovery

* The first two reservoirs (out of the three encountered by the Alameda-1 exploration well) have now been independently assessed to contain a combined:

-- 4.8 billion barrels of oil in place
-- 267 million barrels of Prospective Resource

* All of the volumes quoted above are on a gross unrisked mean estimate basis. Melbana has a 30% participating interest in Block 9 PSC.  

Melbana Energy’s Executive Chairman, Andrew Purcell, commented: “This is a pleasing and very material addition to the considerable prospective resource estimate previously announced for the Amistad structure in the upper sheet. It reminds us all of the potential scale of the reservoirs that were encountered whilst drilling the Alameda-1 exploration well – a total volume of estimated recoverable resource that we expect will increase further again once the estimate for the final structure, Marti, is available to us.”
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