Melbana upgrades Cuba E&P potential, eyes 1H18 drilling
Melbana Energy has upgraded the exploration potential of Cuba's onshore block 9 by 50%, believing it to be "one of the world's most exciting exploration plays" with upgraded estimates of 12.5Bboe, with 637Mboe as prospectively recoverable, according to the company's quarterly activities summary.
"The March quarter has been a significant period for Melbana and its Cuban asset, block 9," Melbourne-based Melbana said, which changed its name last November from MEO.
Melbana said its ambition is to accelerate the drilling of two wells in block 9 during the first half of 2018, with priority drill targets Alameda-1 and Zapato identified. The former presents an opportunity to drill three objectives with combined exploration potential of 2.5Bboe, and 130Mbof recoverable oil as a best estimate.
The company announced last October it was planning to drill a well at block 9 in the first quarter of 2018.
Melbana was awarded an eight-month exploration extension for the block in 4Q16 by state oil firm Cupet.
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News in: Oil & Gas (Cuba)
Cuba Update: Block 9 farmout
LOI with program of three firm exploration wells provides multiple opportunities for a significant discovery in underexplored Block 9 onshore acreage
Cuba Update: Block 9 farmout
LOI with program of three firm exploration wells provides multiple opportunities for a significant discovery in underexplored Block 9 onshore acreage
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