MAY 9.09% 2.0¢ melbana energy limited

Ann: Zapato-1ST Drilling Update, page-180

  1. 2,271 Posts.
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    AP and PS have said in presentations if Zapato and Alameda exploration wells flow at good rates they will be put in production straight after. See the time line from the Webinar Presentation dated March 9th 2022 below which clearly shows that those exploration wells being put on production straight after a good flow testing:
    https://hotcopper.com.au/data/attachments/4611/4611757-dea7ffd793f01f6316e0ebd4c2f9bf3c.jpg
    If Zapato is duster they will then drill the Amistad production well straight after and if flow tests are good it will be put straight on production. Being a shallow well it should take less a month to drill. On an announcement on the 1st June 2022 AP stated the following:
    "Technical and financial plans for these forward operations are now being developed in more detail following these meetings and discussed with regulators and contractors. Melbana is currently seeking the necessary approvals to appraise the three oil bearing zones of the Amistad structure encountered whilst drilling Alameda-1, to take place immediately following the completion of Zapato-1. This could be done using in-country inventory and with minimal additional permitting. These three oil reservoirs have been independently estimated to contain 119 million barrels of Prospective Resource (100% share, unrisked mean estimate). Should the anticipated appraisal well encounter satisfactory production characteristics, this well would be left on production once testing is complete with the produced oil being trucked to the nearby tank farm at Varadero."
    This clear shows production from Amistad is very possible before year end and Zapato if successful could also be in production before year end. To drill additional production wells from the Amistad oil discovery can be done quickly and cheaply as the oil reservoir is fairly shallow.
    Last edited by The Mechanic: 21/08/22
 
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