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MAY - Melbana Energy

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mullokintyre said:
So, I stuck with MAY for the June Comp. It was just easier that way.
Mick
Click to expand...
lucky that was 2023, Mick

MAY gives way in June

.
Block 9, Alameda-3: Appraisal Update

Highlights
- Total depth reached at 3880mMD. Core obtained. Logs indicate significant natural fracturing.
- Slotted liner run in hole before well test operations commenced on 9 June over a 238mMD interval in the Marti reservoir.
- Oil observed on the drill string and high formation pressure consistent with findings from Alameda-1 and once again demonstrating the presence of oil very deep in the formation.
- As yet no uncontaminated sample obtained at surface, possibly due to reaction between drilling muds and the reservoir. Downhole gauges being recovered for analyses along with fluid samples before continuing testing.
- Preparations for testing of the shallower Alameda formation now underway.
 
Somebody wanted out at any price.
And a big chunk too.
Mick
 
from 1.8c to 3.3c last week, and settled 50 per cent up for the week at 2.7c

Highlights
• Initial development of Unit 1B formally approved and on track for Q1 2025.
• Construction approval received for the next Unit 1B well pad. Additional pads progressing through permitting.
• Oil truck/tankers have arrived in country. All export approvals received.
• Oil offtake contract terms being finalised with an international oil trader.
• Remediation of existing Unit 1B production well planned for November.
• Export of initial oil cargo on track for end of 2024.

Melbana Energy’s Executive Chairman, Andrew Purcell, commented: “It’s been a busy few months getting everything organised to meet our goal of exporting our first trial cargo of oil by the end of this year. Production from the existing completion in Unit 1B from the Alameda-2 well was recently brought back online to further refine our logistics, storage and processing arrangements as well as to build some more inventory. Remediation of this completion is planned for November, the objective of which is to restore the well’s initial production rate of 1,235 barrels per day. All export approvals are in place and the oil trucks/ tankers we requested have arrived in country. Offtake arrangements with a major international oil trader are also in an advanced stage of negotiation...."
 
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