Melbana Energy Limited has confirmed that the Alameda-1 exploration well spudded (commenced drilling) on Monday 13 September 2021.

The Alameda Prospect (formerly I Lead) is an exploration target in the Block 9 Production Sharing Contract (PSC) which covers 2,380 square kilometres onshore on the north coast of Cuba.

According to Melbana, Alameda is a large structure located in the western part of Block 9 and is in a similar structural position to the Varadero field, the largest oil field in Cuba, approximately 35 kilometres away.

The Alameda-1 well will test three separate targets with a combined prospective resource (best estimate) of 141 million barrels of oil [1].

Melbana has reported that conditions at site are good and an additional 14 containers of contractor materials and equipment arrived at port on schedule on 13 September and are in the process of clearing customs and being transported to site.

Additional Melbana personnel have also now arrived in Cuba to supplement the capabilities of the project management team.

Melbana Energy’s Executive Chairman, Andrew Purcell, commented: “This has been a long-anticipated day and our thanks and appreciation go out to all those members of our project management team that have toiled so tirelessly over many months to ensure that we commenced drilling on schedule. We will provide regular updates as drilling progresses.”

[1] 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. All quoted volumes have been taken from Independent Expert McDaniel & Associates Competent Persons Report, released to ASX on 7 August 2018, as adjusted by Melbana for area relinquishment. Melbana states that it is not aware of any new information or data that materially affects the information included in that announcement and that all the material assumptions and technical parameters underpinning the estimates in the announcement continue to apply and have not materially changed.