Ann: Alameda-3 Drilling Update, page-6

Alameda-3: Drilling Update
Highlights
- Alameda reservoir section Total Depth (TD) called at 3645 metres MD.
- Sections of elevated formation gas have been encountered indicative of
hydrocarbons in the reservoir, consistent with the exploration well Alameda-1.
- Two cores successfully obtained. Now preparing to run wireline logs.
- Primary objectives of the Alameda-3 well are to appraise the previously discovered
Alameda and Marti reservoirs independently estimated to contain a combined 179
million barrels of Prospective (recoverable) Resource* (Unrisked Gross Best
Estimate)1.
Melbana Energy’s Executive Chairman, Andrew Purcell, commented: “Congratulations to
our very capable and experienced project management team for delivering us successfully to
this point, some of whom can now take a short break whilst logs are being run before coming
back to put this formation behind casing. We’re behind schedule due to the need for careful
management of some familiar/some new drilling challenges, but the main thing is to have
successfully and safely reached the bottom of this first reservoir. We’re looking forward to
completing a successful logging run, an important milestone in this appraisal well.”
*
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