Operating Review continued Commercial discussions regarding offtake options and forward development plans are well advanced with both oil traders and potential farminees. The goal remains to achieve the first export of oil before the end of 2024. More thinking required for Marti and Alameda reservoirs The Alameda-3 well was spudded on 15 December 2023 and reached Total Depth of 3880mMD on 17 June 2024. The well was significantly delayed due to operational challenges: a side track at 2908m due to hole stability issues and an inflatable external casing packer running tool was stuck for some time in the 7” liner section (TD 3642m). The objective of the Alameda-3 well was to test the lower two geologically independent oil-bearing reservoirs intercepted by the Alameda-1 well (these reservoirs being designated Alameda and Marti respectively). The goal of the well was to prove up the nearly 179 million barrels of best estimate Prospective Resource certified for these lower two reservoirs. Wireline logging, including FMI, of both the Alameda and Marti reservoir sections was undertaken, indicating a naturally highly fractured reservoir and over 100m of conventional (not fracture dependent) pay in the Alameda reservoir. Flow testing was then undertaken on both the Marti and Alameda reservoirs. The objective of the testing was to determine oil quality and flow rates for the reservoirs to gain a broader understanding of the reservoirs’ production characteristics. In both tests, there were positive indications of high pressure at surface, however minimal returns were observed at surface: the complete removal of drilling mud and downhole fluids from the test string was not achieved, and oil did not flow to surface. Although no uncontaminated oil samples were obtained in either the Marti or Alameda reservoirs, oil samples were recovered on reverse circulation of the test string in the Marti reservoir and were analysed to have API of 19° with 2.3% sulphur. 08 Melbana Energy Limited Annual Report 2024
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