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Melbana Energy - Operations Update - Encouraging oil shows at Alameda-1


Highlights

- Oil shows consisting of relatively light oil have been encountered from just below the casing point at 454 metres to the current depth of 1,047 metres - a thickness of 547 metres so far. Drilling mud weight increased in response.
- Moveable oil was unexpected at these shallow depths and now represents an additional zone of interest. The significance of these shows will be clarified once logging has been completed over that section of the hole.
- Drilling is continuing towards the first of the three mapped objectives (Amistad) - with the deepest (Alameda) being the primary objective.

Melbana Energy Limited (ASX: MAY) (Melbana) is pleased to report the following update on the progress of the Alameda-1 exploration well being drilling in Block 9 PSC, onshore Cuba. Melbana has a 30% interest in Block 9 and is the operator of the current drilling program.

Encouraging hydrocarbon shows have been encountered from soon after the first casing point at 454 metres, when moveable oil was reported at surface within the mud and cuttings samples. The oil was accompanied by elevated gas readings. Drilling continued through the shallow limestones with similar shows persisting over a gross interval of about 578 metres with so far, with oil still on the shakers at the current depth of 1,047 metres.

The oil appears to be lighter than that normally seen at this depth, supporting Melbana’s model of drilling in areas where higher source maturity may be expected.

For more information, download the attached PDF.

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