04 Melbana Energy Limited Annual Report 2025 Highlights Cuba Block 9 Cuba Cuba The Alameda-1 exploration well, completed in 2022, identified multiple vertically stacked and geologically independent oil-bearing structures (called Amistad, Alameda and Marti). The appraisal program consisting of Alameda-2 and Alameda-3 in 2023 and 2024 respectively, led to the independent assessment of a 2C Contingent Resource3 of 46 million barrels in Unit 1B of the Amistad sheet and an upgrade to the Prospective Resources of the Unit 1A (Best Case 32 million barrels) and Unit 1B (Best Case 90 million barrels). During the year, the Company commenced development operations including the workover of Alameda-2 and design, procurement and site construction for the Amistad-2 and Amistad-3 wells. ALAMEDA-24 was completed in Unit 1 of the Amistad structure in FY2024 and subject to a workover in 2025.This workover was designed to remediate near-well formation damage of the Amistad Unit 1B reservoir and the first step in the establishing full-time production and development of the field. Workover highlights include: First use of the service rig, primarily under 12-hour operations. Addition of new perforation intervals in both the upper and lower Unit 1B. Acid-squeeze resulted in significant acid and completion fluid losses to the reservoir. Block 9 Development Scope Commenced 3 Independent best estimate (2C), 100% share, as per ASX announcement 25 March 2024. 4 Also referred to sometimes as Amistad-1. During clean-up flows static gradient and a memory production log (MPLT) survey were run. The MPLT confirmed that a pump would accelerate recovery of the heavy-weight completion brine used to control the well. A down-hole pump was run and a second acid treatment conducted. After further cleanup flow, the well was shut-in for 12 hours before a 12-hour test was conducted and the service rig rigged-down and released. The well was handed to production, all completion brine recovered and the well-produced continuously for the remainder of the period. A closing crude inventory of 22,863 barrels was established at the end of the financial year. ALAMEDA-2 AND ALAMEDA-3 STUDIES The Alameda-2 and Alameda-3 wells were multi-objective appraisal wells which gathered large amounts of data and samples, all requiring analyses. Studies of these samples and data were largely completed during the year. Results highlights include: Completion of biostratigraphic studies now allows for more direct comparison of the units encountered with the local analogous oil fields; Identification of carbonate facies in individual core samples recovered, providing important information for future well targeting; and Observation of plugging of some pore spaces with barite and precipitation of minerals in fractures leading to studies defining the best composition of nondamaging fluids.
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