- Melbana Energy (MAY) completes a final flow test of lighter oil to the surface at the Alameda-2 appraisal well in its Cuban gas project
- Peak flows to the surface result in 1903 barrels of oil (BOE) per day from unit 1B at an average and stabilised flow rate of 1235 BOE per day
- Melbana is developing a field plan for its tenement of wells, known as Block 9, and it’s reviewing the recent testing results to accelerate quicker production
- The next appraisal well Alameda-3 will test the lower two geologically independent oil-bearing formations intercepted at Alameda-1
- MAY shares were up 41.9 per cent, trading at 8.8 cents at 1:25 pm AEST
Melbana Energy (MAY) has successfully conducted a final flow test of lighter oil to the surface at the Alameda-2 appraisal well in its Cuban gas project.
The peak flow to the surface resulted in 1,903 barrels of oil (BOE) per day from unit 1B, with an average stabilised flow rate of 1,235 BOE per day.
During the testing, more than 1000 barrels of oil were produced and transported away.
“Unit 1B has really delivered, as we hoped would be the case given the high fracture density and excellent permeability and porosity we observed in the logs when drilling through that unit,” MAY Executive Chair Andrew Purcell said.
“To recap, the Alameda-2 appraisal well produced oil to the surface from Unit 1A, achieved strong flow rates of a higher quality crude from Unit 1B, proved the existence of moveable oil from Unit 3 and confirmed a significant increase in logged Net Pay to 615 metres TVD (with fractures) for the Amistad sheet in total – about 45 per cent of the gross section.
“We’re also now reassessing whether there may be value in not abandoning Alameda-1, which is the current plan, before commencing Alameda-3 to appraise the two deeper intervals.”
Melbana has developed a field plan for its tenement of wells, known as Block 9, and is reviewing the recent testing results to support the potential to accelerate the project into quicker production.
The next appraisal well, Alameda-3, will test the lower two geologically independent oil-bearing formations intercepted at Alameda-1.
MAY shares were up 41.9 per cent, trading at 8.8 cents at 1:25 pm AEST.