Melbana Energy Commences Alameda Reservoir Flow Testing; Shares Up 5%

MT Newswires Live06-25

Melbana Energy (ASX:MAY) said that flow testing has commenced on the Alameda reservoir in Cuba, following flow testing on the Marti reservoir, according to a Tuesday filing with the Australian Securities Exchange.

The company plans to assess oil quality and flow rates for the Alameda reservoir, aiming to understand geological formations at depth. The reservoir will be tested as a single zone with perforations covering the lower section, which is interpreted to contain the highest porosity and productivity interval. Flow testing is expected to take up to five days to finish, the company said.

Melbana Energy operates Block 9 PSC onshore Cuba and holds a 30% interest in it, according to the filing.

Shares rose 5% in morning trading.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment