Ann: Drilling Update 3 Pukatea New Zealand, page-2

Melb
The well penetrated the secondary Mtc. Messenger objective, which was encountered
2m high to prognosis, recording encouraging oil showscover a 14mMD
gross interval. The significance of these shows will be assessed when the zone
is wireline loggedc(anticipated to occur towards the end of the week once drilling
has reached the programmed 244mm casing point
).
At the conclusion of logging, casing will be run as per the drill program before continuation of drilling to the
Primary target of the Tikorangi Limestone.
Melbana Energy’s CEO
Robert Zammit commented on the announcement:
“This is an encouraging result for the secondary target of
this well.
The result increases our confidence in
the extent of the Puka field and will be analysed with a view to considering potential restart of production
from
the Puka field.
Drilling will continue
towards our primary high impact target, the Tikorangi Limestone