Melbana to focus on Cuba oil assets
Melbana Energy is continuing with its development of onshore block 9 in Cuba (pictured) and plans to drill two wells, Alameda-1 and Zapato-1, in mid-2018.
Melbana was awarded an eight-month exploration extension for the block in 4Q16 by state oil firm Cupet.
The company said in its Q2 earnings report that it estimates the block to have exploration potential of 12.5Bb of oil-in-place, with a prospective (recoverable) resource of 637Mb as best estimate, and focus has been on this asset during the quarter.
In the report, CEO and managing director Peter Stickland states: "We are progressing towards drilling activity in Cuba, with engineering, procurement and permitting processes underway and drilling targeted to commence mid-2018."
Melbana, which changed its name last November from MEO, had announced last October it was planning to drill a well at block 9 in 1Q18.
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