- Melbana Energy’s (MAY) Zapato-1 exploration well has reached its target depth
- The exploration well reached 3152 metres measured depth, with wireline logging operations run and the collected data currently being analysed
- Drilling saw increased fracturing and a marked improvement in penetration rate in the final two hundred metres, however velocity data from the first logging run confirmed the original reservoir target defined on seismic had been tested
- The well will now be suspended so that the subsurface interpretation may be reviewed once all the new data sets have been incorporated
- Melbana Energy has ended the day down 20.8 per cent, trading at 6.1 cents
Melbana Energy’s (MAY) Zapato-1 exploration well has reached its target depth.
The Zapato-1 well is the second in the company’s two-well program within the onshore Block 9 production sharing area, in which Melbana owns a 30 per cent working interest.
The exploration well reached its target depth of 3152 metres measured depth, with wireline logging operations run and the collected data currently being analysed.
Drilling saw increased fracturing and a marked improvement in penetration rate in the final 200 metres.
However, the well was still within the ophiolitic sequence at the target total depth and velocity data from the first logging run confirmed the original reservoir target defined on seismic had been tested.
The well will now be suspended so that the subsurface interpretation may be reviewed once all the new data sets have been incorporated.
Melbana Energy’s Executive Chair, Andrew Purcell, congratulated his drilling team on reaching its target total depth in “challenging drilling conditions.”
“The thickness of the ophiolite sequence was a major risk for this well and we’ve certainly encountered our share of it,” he said.
“Although it is tempting to keep going given the signs that we may be nearing the end of the ophiolites, we also are keen to get started on appraising the oil reservoirs encountered whilst drilling Alameda-1.”
“The Zapato play type remains extremely significant but for now it’s time to stop exploring and start appraising.”
The rig is now being demobilised and will be sent back to the Alameda drill pad to commence appraisal of the volumes of moveable hydrocarbons encountered by the Alameda-1 well.
The company said it’s fully funded for its appraisal program and the 2023 work program.
Melbana Energy ended the day down 20.8 per cent, trading at 6.1 cents.