Operations Update: Encouraging oil shows at Alameda-1

Melbana Energy release

SYDNEY, AUSTRALIA (27 SEPTEMBER 2021)

Melbana Energy Limited (ASX: MAY) (Melbana) is pleased to report the following update on the progress of the Alameda-1 exploration well being drilling in Block 9 PSC, onshore Cuba. Melbana has a 30% interest in Block 9 and is the operator of the current drilling program.

Encouraging hydrocarbon shows have been encountered from soon after the first casing point at 454 metres, when moveable oil was reported at surface within the mud and cuttings samples. The oil was accompanied by elevated gas readings. Drilling continued through the shallow limestones with similar shows persisting over a gross interval of about 578 metres with so far, with oil still on the shakers at the current depth of 1,047 metres.

The oil appears to be lighter than that normally seen at this depth, supporting Melbana’s model of drilling in areas where higher source maturity may be expected.

The full release is available here.