Operating Review continued – Pulling the completion. – Adding new perforation intervals in both the upper and lower Unit 1B. – Undertaking an acid wash and squeeze. – Re-running the completion. – Conducting an extended clean-up flow to unload heavy-weight completion brine and spent hydrochloric acid. – Analysing of static gradient surveys and a MPLT survey to determine that a pump would be required to recover all of the heavy-weight completion brine used to control the well. – Installing a down-hole pump. – Conducting a second acid treatment. – Conducting a further clean-up flow period to recover the bulk of completion fluids. – Undertaking a short flow test prior to releasing the service rig. The remedial workover operations were completed in April 2025 and the Alameda-2 well commenced continuous production following demobilisation of the service rig from location. Total production to the end of the reporting period was 19,259 barrels, bringing the closing crude inventory to 22,863 barrels at the end of the year. Amistad development Following the observation of reducing productivity associated with formation damage, particularly in Alameda-2, the Company commenced a significant technical review to determine the most likely damage mechanisms and identify mitigation strategies to reduce this risk in future wells. This work resulted in the identification of barite (a non-reactive weighting agent in conventional drilling mud) embedment and mineral precipitation, in varying amounts on different core samples. This in turn informed the Company’s development of a proprietary reservoir drilling fluid (Melbana RDF). The Melbana RDF was designed to reduce the quantity of barite required to control high-pressure reservoirs whilst avoiding the use of chemically incompatible fluids. The company tested numerous brine-based fluids. 08 Melbana Energy Limited Annual Report 2025
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