Highlights
- Significant uplift in Logged Net Pay for Units 1A, 1B and 2 of the Amistad interval
to 243 metres (84 metres previously)
- Total depth for Alameda-2 reached ahead of schedule
- Logging of Unit 3 complete. Log results throughout generally of good quality and
Net Pay from this unit not included in revised estimate above.
- Flow testing of Unit 3 about to commence with Unit 2 then Unit 1B to follow.
Melbana Energy’s Executive Chairman, Andrew Purcell, commented: “Excellent quality
logs have been obtained over the entire Amistad interval – a great improvement on last time
when logs could not be obtained over some of the most productive units. This has allowed us
to calculate significantly more Net Pay as well as to understand more about the reservoir. We
were encouraged by the fact that Unit 1A had natural flow to surface, particularly since no
resource from this unit had been included in previous estimates of the most likely oil resource
contained therein.
Conservatively, we could be seeing 243 metres of Net Pay on logs for Units 1A, 1B and 2 –
almost a threefold increase in what we were able to verify last time across the equivalent area.
This is a great result in its own right, even before we consider that this number increases to
538 metres if we allow for the natural fracturing encountered. Logs for Unit 3 are still being
analysed.”
Melbana Energy Limited, a 30% interest holder in and
operator of Block 9 PSC onshore Cuba, advises that the planned Total Depth (TD) of the
Alameda-2 well has been reached ahead of schedule. Wireline logging of the Amistad interval
has been completed with good quality results having been obtained throughout. Liners have
now been run with flow testing of Unit 3 expected to commence by the end of the week, Cuba
time. Testing of Unit 2 then Unit 1B will follow.
Uplift to Net Pay Estimates
243 metres of Net Pay (47% of the gross interval of 1,131 metres measured depth)
Analyses of logging results from the 8-1/2” hole run over Units 1A, 1B and 2 have been
completed.
Good results have been obtained from a conventional logging suite that has confirmed:
Permeability is present, as evidenced by valid pressure tests; and,
• There is an oil column in Unit 1A which is separated by a seal from Unit 1B which has
a substantial oil column with a different oil density to that seen in Unit 1A.
Logs have shown the entire section is highly fractured with the presence of vuggy porosity
within the limestone reservoirs confirming good porosity and storage capacity. The hole
condition was excellent allowing all logs to be incorporated.
The analysis was undertaken using a conventional suite of cut-offs:
• Porosity 9%
• Water Saturation 50%
• Vshale 40%
This conservative approach has allowed a total of 243 metres of Net Pay to be calculated over
a gross interval of 1,131 mMD (21%). Logging results over the equivalent units from Alameda1 only allowed 84 metres to be calculated.
There is now estimated to be over 125 metres of Net Pay in Unit 1A alone, compared with 3.1
metres estimated from the previously available logs from Alameda-1.
This estimate of Net Pay is considered conservative because the highly fractured limestones
in Unit 1B generally have a background porosity less than 9% and therefore do not get picked
up in conventional pay calculations. Using the logs to pick fractures then incorporating these
into the Unit 1B calculations potentially increases Net Pay to 538 metres, or to about 47% of
the encountered gross interval of 1,131 metres.
An updated estimate of the prospective resources contained in the Amistad interval will be
undertaken once the testing program is complete.
ABOUT THE BLOCK 9 APPRAISAL WELL PROGRAM
Block 9 PSC is a large onshore area of more than 2,300km2
located on the north coast of Cuba
in a proven hydrocarbon system and along trend with the multi-billion barrel Varadero oil field.
Melbana’s technical team has identified 19 structural prospects and leads within the block (see
Figure 2).
Melbana completed an initial two well exploration program in 2022, the first of which
(designated Alameda-1) encountered three geologically independent oil-bearing intervals,
each with moveable oil accompanied by high pressure, that were subsequently independently
estimated to contain oil in place of 5.0 billion barrels for a Prospective Resource of 267 million
barrels (gross unrisked best estimate)*,1
- an 89% increase of the predrill prognosis.
Melbana then designed a two well appraisal program to better understand the characteristics
of these intervals and their production potential (see Figure 3 on page 4). The first of these
appraisal wells, designated Alameda-2, will test the three oil bearing units of the shallowest
interval called Amistad. Drilling of Alameda-2 commenced in June 2023.
* Prospective Resources Cautionary Statement - The estimated quantities of petroleum that
may potentially be recovered by the application of a future development project(s) related to
undiscovered accumulations. These estimates have both an associated risk of discovery and
a risk of development. Future exploration appraisal and evaluation is required to determine
the existence of a significant quantity of potentially moveable hydrocarbons.
Following the completion of Alameda-2, the second appraisal well (designated Alameda-3) will
test the two deeper intervals called Alameda and Marti. The scope of these appraisal wells
includes coring, wireline logging, flow testing and quality analysis.
