Melbana Energy Limited (Melbana or the Company) provides the following summary in
relation to its activities during the quarter ended 30 June 2025.
HIGHLIGHTS
Cuba
Block 9 PSC (Melbana 30% participating interest and Operator)
- Continuous oil production commenced from Alameda-2 since mid-April; Crude inventory
more than 22,000 barrels at period end.
- All civil works, permits and materials in place for drilling of Amistad-2 – Block 9’s first dedicated
production well.
- Civil works for Amistad-3 largely complete and final drilling permits and materials were received
at period end.
Corporate
- $5.1 million cash available at the end of the quarter.
CUBA: Block 9 PSC (Melbana 30%, Operator)
Alameda-2 Production Commenced
The workover of Alameda-2 concluded in early April. The well was shut-in whilst the rig was
demobilised and opened to continuous production by mid-April.
A significant volume of completion brine and stimulation fluid (spent HCl acid) was lost to the reservoir
during operations. At the end of the quarter substantially all fluids lost to the formation had been
recovered to surface through production operations.
During the period, a total of 14,259 barrels of crude was produced and delivered to storage, bringing
the closing crude inventory to 22,863 barrels.
Drilling Amistad-2
Final permits for the drilling of Amistad-2 were received and all civil works (construction of the well
pad, access roads etc.) completed during the quarter. All non-rig equipment and materials have been
received.
The well design for the Amistad –2 program incorporates all lessons learned to date to maximise the
well’s flow potential. Key amongst these lessons is intersecting as many fracture zones as possible,
a significantly simplified open-hole completion design and use of a reservoir drilling fluid that doesn’t
damage the reservoir (which Melbana has developed and lab-tested specifically for this purpose).
Amistad-2 is to be drilled from Pad 9 (see Figure 1) in a southerly direction along the existing 2D
seismic line and is designed to intersect the entire Unit 1B (Veloz Group, Amistad-sheet) reservoir in
a favourable location for numerous interpreted fracture sets. The location is approximately 800
metres from and 200 metres updip of the successful Alameda-2 well.
Drilling Amistad-3
Preparations for the drilling of Amistad-3 are advanced. Civil construction of the well pad, rig-camp
location and access roads are nearing completion and were awaiting final levelling and compaction
at the end of the reporting period (see Figure 2). The Amistad-3 permit to drill was received and all
necessary material drilling equipment arrived in Cuba during the quarter.
The Amistad-3 production well targets several interpreted fracture sets within the Unit 1B (Veloz Group, Amistad-sheet) oil reservoir. A total depth of 1625 metres MD is programmed, and aiming to be updip to the lowest known oil in this unit (see Figure 3). Amistad-3 is planned to immediately follow Amistad-2.
AUSTRALIA: AC/P70 (Melbana 100%)
Marketing of the Company’s interest to AC/P70 in the Ashmore Cartier Territory offshore northwestern Australia continued during the quarter to prospective partners. Interest has been
encouraging, given the existing infrastructure and planned activity surrounding the licence area and
the contingent and prospective oil and gas resources the Company estimates1 to exist therein.
HEALTH AND SAFETY
No lost time incidents occurred during the reporting period.
CORPORATE
Payments to related parties and their associates, totalling $137,000 as outlined in Section 6 of the
accompanying Appendix 5B, related to payment of directors’ fees.
The Company had total cash on hand of $5.1 million as of 30 June 2025.
This announcement has been authorised for release to the ASX by the Board of MAY.