Directors’ Report The Directors present their report, together with the financial statements, on the consolidated entity (referred to hereafter as the ‘Consolidated Entity’) consisting of Melbana Energy Limited (referred to hereafter as ‘Melbana’, the ‘Company’ or ‘parent entity’) and the entities it controlled at the end of, or during, the year ended 30 June 2025. Directors The following persons were Directors of Melbana Energy Limited during the whole of the financial year and up to the date of this report, unless otherwise stated: Andrew Purcell (Executive Chairman) Michael Sandy (Non-Executive Director) Peter Stickland (Non-Executive Director) Principal activities The principal activities of the Consolidated Entity during the year were oil and gas exploration in Cuba and Australia together with development concepts for the Tassie Shoal Methanol and LNG Project. Dividends There were no dividends paid or declared during the current or previous financial year. Review of operations International Operations Cuba - Block 9 (Melbana 30%) During the reporting period, the Company conducted routine and special core analysis on samples recovered from Alameda-3. These studies included investigations into the potential sources of formation damage observed in both the Alameda-2 and Alameda-3 wells. Evidence of formation damage was noted in scanning electron microscope (SEM) and computed tomography (CT) images by the presence of barite embedment and crystalline precipitates within pores and fractures and on the surface of core plugs (See Figure 2). 12 Melbana Energy Limited Annual Report 2025
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