Melbana Energy Ltd Interview with Executive Chairman, Investor Stream Transcript
It's great to chat again, Melbana update on Tuesday, confirm the presence of available oil in Unit three of the Alameda two well firstly, how would you interpret those results and what do you think that differs from the market interpretation?
We took logs across this whole Alameda two section then confirmed the substantial net payable more than 600 meters vertical in the formation and we use Layman's language. That mean 600 meters of reservoir rock capable of storing oil net pay is an order of magnitude less than that. I considered significant usually when our business globally.
So but in addition to the logs testing demonstrated the presence of movable oil Unit one a float surface unassisted, which is noteworthy, given how shallow it wasn't and sell low pressure. It is up there and then testing of Unit three, the deeper section indicates a potential for it to float, but about 750 barrels of oil per day, making it among the better performing vertical shallow
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