- Melbana Energy (MAY) successfully initiates a side-track well from the existing drill hole at its Zapato-1 well within the Block 9 contract area, onshore Cuba
- The company had begun initiating a side-track after detecting oil when the drill string became stuck in the ophiolite section at a depth of 1698 metres
- Drilling performance since the successful commencement has been pleasing with site operations proceeding according to expectations
- Based on current drilling rates, the company hopes the side-track will reach or exceed the previous depth achieved of around 1700 metres measured depth by the end of the week
- Shares in Melbana Energy are up 4.17 per cent, trading at 10 cents as of 12:59 pm AEST
Melbana Energy (MAY) has successfully initiated a side-track well from the existing drill hole after observing oil during a stuck pipe event in its Zapato-1 well within the Block 9 contract area, onshore Cuba.
The company had begun activities to initiate a side-track and continue drilling to the main carbonate target below the ophiolite after detecting oil when the drill string became stuck in the ophiolite overburden section at a depth of 1698 metres.
Following a successful commencement of a side-track from the existing drilled hole, the company said drilling performance has been pleasing and site operations are proceeding according to expectations.
The side-track hole is currently at 1622 metres measured depth and still in hard volcanics, as prognosed.
Based on current drilling rates, the company hopes the side-track will reach or exceed the previous depth achieved of approximately 1700 metres MD before the end of the week.
Shares in Melbana Energy were up 4.17 per cent, trading at 10 cents as of 12:59 pm AEST.