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17 May 2021 - Melbana Energy Limited (ASX:MAY) Executive Chairman Andrew Purcell provides an update on the company s key Cuban onshore oil project, including preparation for its two exploration well program scheduled for Q3 2021 and its sale of WA-488-P permit (containing the Beehive Prospect) to a wholly owned Australian subsidiary of the US company EOG Resources, Inc (NYSE:EOG). ....
Melbana Energy has announced the sale of its WA-488-P permit to EOG Australia, a wholly owned subsidiary of EOG Resources. EOG intends to drill an exploration well targeting the Beehive Prospect in 2022. ....
Melbana Energy provides quarterly activities summary for the period ended 31 December 2020 01 Feb 2021 Construction of well pad for Alameda-1 more than half completed. Drilling contract with preferred supplier amended to accommodate additional operational requirements. Contracts for supply of long lead items (tubulars, well casings etc.) approvedand ready for award. Amended project timeline being prepared,spud date now Q2 2021. All partner and regulatory approvals received for two well work program and budget. Permitting and land access agreements for first well complete. Cuban work visas for key expatriate project management personnel received. First well (Alameda-1) to take about 75 days. Three targets with a combined Prospective Resource of 143 MMBBLS(Best Estimate) to be tested, each of which have previously recovered hydrocarbons and the best of which independently assessed to have a 32% chance of success. ....