On 2 November 2023, the Company announced the completion of an EPT operation from the Amistad Unit 1B reservoir in the Alameda-2 appraisal well. Production was run for a total of 10 days, the flow peaked at 1,183 barrels of oil per day, and 20 tanker loads of oil were produced and delivered to offsite storage. On 6 November 2023, the Company announced that a member of the Board of Directors, Andrew Purcell, acquired 1,574,000 FPO shares, increasing his holding in the Company to 236,200,097 securities. On 15 December 2023, the Company announced the commencement of the drilling of the Alameda-3 appraisal well. The primary objectives of the well were the appraisal of the two deeper and geologically independent Alameda and Marti reservoirs discovered by the Company in 2022. These reservoirs were estimated to contain a combined 179 million barrels of Prospective (recoverable) Resource (Unrisked Gross Best Estimate). On 5 February 2024, the Company announced the issuance of 16,115,750 performance rights to one of its Key Management Personnel (KMP) as part of the staff Long Term Incentive (LTI) scheme. On 12 February 2024, the Company announced that the primary term work conditions for WA-544-P and NT/P87 (Melbana 100%) had been suspended for 18 months and the terms of the Permits similarly extended by 18 months. On 25 March 2024, the Company announced that McDaniel and Associates had upgraded the Amistad Unit 1B resource estimate to contain 46 million barrels of Contingent Recourses and 90 million barrels of Prospective Resources (100% share, best estimate). On 18 April 2024, the Company announced that the Alameda reservoir section Total Depth (TD) was called at 3645 mMD in the Alameda-3 appraisal well. On 17 June 2024, the Company announced that TD was reached in the Alameda-3 appraisal well at 3880mMD. Well test operations were run in the Marti reservoir over a 238mMD interval, with oil observed on the drill string and high formation pressure observed. No uncontaminated oil samples were able to be obtained at surface. On 27 June 2024, the Company announced the successful perforation of casing between 3272 and 3450 mMD in the Alameda reservoir in the Alameda-3 appraisal well. Drill string fluids were unable to be recovered during flow testing, and no uncontaminated oil samples were obtained. Oil samples were recovered on reverse circulation of the DST string and were sent for lab analysis. Resource upgrades During the reporting period the Company made significant announcements pertaining to the upper sheet Amistad Unit 1A and Unit 1B oil-bearing formations encountered by both the Alameda-1 exploration well and Alameda-2 appraisal well in its Block 9 PSC onshore Cuba (see Table 1,2,3 & 4 above).16 Matters subsequent to the end of the financial year On 15 July 2024, the Company announced that a member of the Board of Directors, Michael Sandy, acquired 1,000,000 FPO shares, increasing his holding in the Company to 7,300,000 securities. On 15 July 2024, the Company announced that a member of the Board of Directors, Peter Stickland, acquired 1,000,000 FPO shares, increasing his holding in the Company to 14,827,419 securities. On 16 July 2024, the Company announced that a member of the Board of Directors, Andrew Purcell, acquired 4,500,000 FPO shares, increasing his holding in the Company to 241,100,097 securities On 31 July 2024, the Company announced the resignation of Cate Friedlander and appointment of Uno Makotsvana as Company Secretary. On 11 September 2024, the Company announced the approval of Block 9 Amistad field development stating that the Company remains on target to exporting its first trial cargo of oil by the end of calendar year 2024. On 19 September 2024, the Company announced that one of its wholly owned subsidiaries had been granted petroleum exploration permit WA-552-P located offshore Western Australia in the Dampier Sub-basin of the Northen Carnarvon basin. No other matter or circumstance has arisen since 30 June 2024 that has significantly affected, or may significantly affect the Consolidated Entity’s operations, the results of those operations, or the Consolidated Entity’s state of affairs in future financial years. 16 Independent certifier McDaniel and Associates, see ASX announcement dated 1 August 2022. 21 Melbana Energy Limited Annual Report 2024
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