Onshore exploration well strikes pay in Cuba

Cuba

HAVANA, August 28, 2023 – Melbana Energy has drilled the Alameda-2 appraisal well on Block 9 in Cuba with positive results, the Australian E&P company announced on Monday.

The company saw peak flow rates of 1,900 bopd and stabilised average flow rates of 1,240 bopd from the well.

Oil was significantly lighter than previous estimates at 19 API.

More than 1,000 barrels of oil were produced during testing with no formation water observed.

The well is currently being completed to allow for future production.

Melbana Energy is now reconsidering its plan to abandon the Alameda-1 well drilled in February 2022 before commencing the Alameda-3 exploration well.

The next appraisal well will test the lower two geologically independent oil-bearing formations intercepted by Alameda-1 well.

“[The appraisal well] has been a tremendous success and gives us more shorter-term production options to consider when finalising our field development plan,” said Andrew Purcell, executive chairman of Melbana Energy.

Block 9 covers an area of 2,340 square kilometres and is located in the northern region of Cuba around 140 kilometres from Havana.

The block was first spudded in September 2021.

Melbana Energy holds a 30% operating stake in the concession alongside Angolan E&P player Sonangol Group with the remaining stake.