- Melbana Energy (MAY) begins preparations for the relocation of the drill rig and camp to the Zapato-1 well at the Alameda-1 well in onshore Cuba
- During the transfer, some essential maintenance and recertification will need to be done, resulting in drilling at Zapato-1 beginning in the last week of May
- The aim of drilling at Zapato-1 is to locate the source of the historical Motembo oil field which is Cuba’s oldest oil field that reportedly contained a very light oil at surface
- Melbana believes that Zapato-1 may be the primary structure and the source of oil for the Motembo oil field
- Shares in Melbana are down 12.7 per cent on the market and are trading at 9.6 cents
Melbana Energy (MAY) has begun preparations for the relocation of the drill rig and camp to the Zapato-1 well at the Alameda-1 well in onshore Cuba.
During the transfer, some essential maintenance and recertification will need to be done, resulting in drilling at Zapato-1 beginning in the last week of May.
The aim of drilling at Zapato-1 is to locate the source of the historical Motembo oil field which is Cuba’s oldest oil field that reportedly contained a very light oil at surface.
Melbana will be targeting a structure identified via an interpretation made by its technical team taken from seismic and surface data and then validated with results from a gravity and magnetic survey.
The company believes that Zapato-1 may be the primary structure and the source of oil for the Motembo oil field. Previously, there have been no wells drilled deep enough to intercept Zapato-1.
Simultaneously with testing Zapato-1, Melbana’s team will also complete its review of the longer-term testing of the oil intervals encountered at Alameda-1 to allow for the higher formation pressures identified there.
“Our Alameda-1 exploration well has delivered results considerably greater than our pre-drill expectations,” Executive Chairman Andrew Purcell commented.
“Having found three significant and highly energised intervals of net hydrocarbon pay we were naturally keen to try and get some data on the oil’s composition and the likely performance of the reservoirs as soon as possible, but this will now have to wait for the formal testing program given that management of the high formation pressures made it complicated to repurpose our exploration well into a testing environment.”
“We are now revising our plans for testing in Alameda-1 whilst also preparing for the start of drilling at Zapato-1.”
Shares in Melbana were down 12.7 per cent on the market and were trading at 9.6 cents at 10:47 am AEST.