3 Mar 2023other▲ Good
S&P Dow Jones index rebalance notice. Melbana is listed as an addition to the All Ordinaries index, effective 20 March 2023. No company operational or financial change.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
22 Feb 2023investor presentation● Neutral
Copy of the presentation for the 22 February 2023 investor webinar on Alameda-2 preparations, as flagged earlier. The excerpt shows only the cover letter and disclaimers, with no new results.
20 Feb 2023security holder rights change● Neutral
Melbana is offering a sale facility for holders of 6,170 shares or fewer (under A$500 at A$0.081). About 2,100 of roughly 10,000 holders, 6.99m shares, are affected and will be sold unless they opt out by 6 April 2023. Cuts admin costs.
17 Feb 2023investor presentation● Neutral
Melbana announced an investor webinar for 22 February 2023, where Andrew Purcell would update on Alameda-2 drilling preparations and Chief Geoscientist Errol Johnstone would discuss the objectives and geology. It included a Q&A session and reported no new results.
16 Feb 2023drilling scheduled▲ Good
Final drilling permit for Alameda-2 received. The rig is due to start mobilising in the third week of March 2023, and civil works at the pad are complete. Amistad is quoted at 1.9bn bbl in place and 88 MMbbl prospective. Reaching the objectives could support a maiden reserve.
24 Jan 2023drilling scheduled● Neutral
Melbana said preparations for Alameda-2, the first Block 9 appraisal well, were advanced, with mobilisation notices due in early March 2023. The well, planned to reach 1,960mMD, will flow-test the Amistad reservoir, assessed at 1.9 billion barrels in place and 109 million barrels Prospective Resource.
9 Dec 2022drilling scheduled▲ GoodMajor
Cuban regulator and partner Sonangol approved the 2023 program and budget, and material permits are in hand. Alameda-2 will test the Amistad zone to about 2,100mMD, estimated at 1.9bn bbl in place and 88 MMbbl prospective (best estimate), starting by March 2023.
7 Dec 2022director officer appointment● Neutral
New hires: Duncan Lockhart as Exploration Manager, Cate Friedlander as General Counsel and Company Secretary, and Uno Makotsvana as CFO. Theo Renard has resigned as CFO and Company Secretary. This is a management reshuffle ahead of the 2023 appraisal program.
22 Nov 2022investor presentation● Neutral
Presentation for the 22 November 2022 AGM, reviewing the year and the Cuba Block 9 findings. The excerpt shows only disclaimers and an index, with no new results.
16 Nov 2022investor presentation● Neutral
Melbana will present at a ShareCafe small-cap webinar on 18 November 2022 and attached an investor presentation. It is an overview of the company, not a new result.
15 Nov 2022drilling scheduled▲ GoodMajor
Two appraisal wells in Block 9 (Melbana 30%, operator) are set to start in Q1 2023, to test the three Alameda-1 reservoirs (6.4bn bbl in place, 362 MMbbl prospective), with extended production tests possible. Melbana says it is fully funded for its share.
11 Nov 2022admin correction● Neutral
Corrects the previous notice: the AGM is on Tuesday 22 November 2022 at 10.30am, not Wednesday. Administrative only.
9 Nov 2022investor presentation● Neutral
Notice of an investor webinar on 15 November 2022, where Andrew Purcell will update on the Block 9 drilling program. No new information.
27 Oct 2022drilling result▼ BadMajor
Zapato-1 reached its planned total depth of 3,152 mMD, still within the ophiolite, though velocity data indicated the original seismic reservoir target had been tested. The well will be suspended and the rig sent back to Alameda for appraisal.
21 Oct 2022annual report● Neutral
Appendix 4G corporate governance checklist lodged with the 2022 annual report, pointing to the governance statement on the company website. Administrative only; no new results or figures.
21 Oct 2022annual report● Neutral
2022 Annual Report. The chairman cites 6.4 billion barrels in place and 362 MMbbl across the Alameda-1 zones, a planned return to Alameda for appraisal, and the EOG Beehive sale payments. Mostly restates known facts.
19 Oct 2022price query● Neutral
Answering an ASX price query after the share price moved from $0.060 to $0.086, Melbana said it knew of no undisclosed information. It noted online claims of emails sent from Cuba and said it sent none.
17 Oct 2022drilling progress report● Neutral
Zapato-1 is at 2,880mMD, possibly just above the base of the ophiolite, now re-estimated near 3,000mMD with large uncertainty. Drilling continues, with a return to Alameda planned. Purcell says recent option conversions strengthened cash.
10 Oct 2022admin correction● Neutral
Registered office changed to GPO Box 73, Sydney; principal place of business is now 388 George Street, Sydney. Phone and email unchanged. Administrative only.
4 Oct 2022drilling progress report▼ Bad
Zapato-1ST passed 2,700mMD without reaching the target; the estimated top of the target formation is now revised to about 2,800mMD. Hurricane Ian had minimal impact on drilling.
26 Sept 2022drilling progress report● Neutral
Zapato-1ST is at 2,642mMD in hard volcanics, just short of the expected 2,650mMD start of the target formation.
15 Sept 2022drilling progress report● Neutral
Zapato-1ST is at 2,451mMD and drilling slowly through hard formation. The target formation is still expected to start near 2,650mMD.
9 Sept 2022annual report● Neutral
Statutory accounts for the year to 30 June 2022 reviewing the Cuba Block 9 drilling and the Australian permits. AGM set for 22 November 2022. The excerpt shows no new results.
8 Sept 2022drilling progress report● Neutral
Zapato-1ST is at 2,353mMD. Time was lost to an electrical fault from a storm and a bit change. Drilling is expected to resume shortly. Option expiry reminder repeated.
1 Sept 2022drilling progress report● Neutral
9-5/8" casing was set and cemented at 2,298mMD and the BOP pressure tested. Drilling in 8-1/2" hole is expected to resume after a leak-off test. Option expiry reminder repeated.
25 Aug 2022drilling progress report● Neutral
Zapato-1ST reached about 2,303mMD, where the bit was pulled and 9-5/8" casing is being prepared over more than 1,000m of open hole. The ophiolite is thicker than prognosed. Sonangol visited Melbourne to discuss Block 9 appraisal plans.
17 Aug 2022listing compliance notice▼ Bad
ASX found Melbana breached Listing Rule 6.24 by sending the option expiry notice late. The company blamed an internal administrative oversight and says it has updated its processes.
17 Aug 2022admin correction● Neutral
Correction: MAYO options will stop trading at close on Monday 5 September 2022, not 6 September as previously announced. Expiry date is unchanged.
16 Aug 2022security holder rights change● Neutral
Reminder that the listed MAYO options (strike $0.035) expire 10 September 2022; the share price was $0.095 on 15 August. Holders must exercise, sell or let them lapse. Exercise would bring cash into the company.
16 Aug 2022drilling progress report● Neutral
Zapato-1ST is at 2,150mMD, still in overburden. Some time was lost recovering debris after a bit failure. Melbana says its operations were not affected by the Matanzas terminal fire.