Melbana Energy Limited · ASX:MAY

Melbana Energy — Corporate Update (August 2023)

24 slides from Melbana Energy's corporate update, Aug 28, 2023

1. Slide 1: Alameda-2 Appraisal Update – Webinar Presentation

   Alameda-2 Appraisal Update – Webinar Presentation SYDNEY, AUSTRALIA (28 August 2023) Attached is a presentation that the company proposes to use for its webinar to be held today at 11:30AM AEST. Released by authority: For and on Behalf of the Board of For further information please contact: Director

2. Slide 2: Alameda-2 Appraisal Update

   MELBANA ENERGY LIMITED ASX Code: MAY Alameda-2 Appraisal Update 28 August 2023

3. Slide 3: Disclaimer

   Disclaimer Summary of information: This presentation contains general and background information about Melbana Energy’s activities current as at the date of the presentation and should not be considered to be comprehensive or to comprise all the information that an investor should consider when maki

4. Slide 4: Index

   Index 1. Videos from the field 2. Objectives for Alameda-2 Appraisal Well 3. Alameda-2 Test Sequence 4. Structural interpretation 5. Summary of Alameda-2 appraisal results 6. Forward program 7. Q&A 3

5. Slide 5: Videos from the field

   Videos from the field Oil in the tanks First look at oil from DST-4 from Unit-1B (Unit-1B) Oil Terminal 4

6. Slide 6: Objectives for Alameda-2 Appraisal Well

   Objectives for Alameda-2 Appraisal Well Oil Terminal 5

7. Slide 7: Alameda-2 Test Sequence

   Alameda-2 Test Sequence 13-3/8” Casing Shoe Set 13-3/8” Unit-1A Casing in seal above Unit-1A 6

8. Slide 8: Alameda-2 Test Sequence

   Alameda-2 Test Sequence 13-3/8” Casing Shoe Drill 8-1/2” hole into Unit-1A DST-1 Unit-1A and Flow test Open Hole DST-1 in open hole 7

9. Slide 9: Alameda-2 Test Sequence

   Alameda-2 Test Sequence 13-3/8” Casing Shoe Drill 8-1/2” hole through Unit-1A DST-1 Units 1A, 1B and 2 Open Hole Unit-1B Unit-2 8

10. Slide 10: Alameda-2 Test Sequence

    Alameda-2 Test Sequence 13-3/8” Casing Shoe Run 7” casing to Unit-1A DST-1 isolate lower pressure Open Hole Units 1A & 1B from higher pressure Unit-3 Unit-1B Unit-2 Unit-3 7” Casing Shoe 9

11. Slide 11: Alameda-2 Test Sequence

    Alameda-2 Test Sequence 13-3/8” Casing Shoe Drill 6” Hole Unit-1A DST-1 into Unit-3 Open Hole Unit-1B Unit-2 Unit-3 7” Casing Shoe TD 1976mMD 10

12. Slide 12: Alameda-2 Test Sequence

    Alameda-2 Test Sequence 13-3/8” Casing Shoe Run 4-1/2” Slotted Unit-1A DST-1 Liner over Unit-3 Open Hole Unit-1B DST-4 Perforated Unit-2 DST-3 Perforated Unit-3 7” Casing Shoe TD 1976mMD 4-1/2” Slotted Liner 11

13. Slide 13: Alameda-2 Test Sequence

    Alameda-2 Test Sequence 13-3/8” Casing Shoe Run DST-2 String Unit-1A DST-1 and Flow Test Unit-3 Open Hole Unit-1B DST-4 Perforated Unit-2 DST-3 Perforated Unit-3 DST- 2 7” Casing Shoe TD 1976mMD 4-1/2” Slotted Liner 12

14. Slide 14: Alameda-2 Test Sequence

    Alameda-2 Test Sequence 13-3/8” Casing Shoe Run Bridge Plug Unit-1A DST-1 to seal off Unit-3 Open Hole Unit-1B DST-4 Perforated Unit-2 DST-3 Perforated Unit-3 DST- 2 7” Casing Shoe TD 1976mMD 4-1/2” Slotted Liner 13

15. Slide 15: Alameda-2 Test Sequence

    Alameda-2 Test Sequence 13-3/8” Casing Shoe Perforate Unit-2, Unit-1A DST-1 Run DST string and Open Hole Flow Test DST-3 Unit-1B DST-4 Perforated Unit-2 DST-3 Perforated Unit-3 DST- 2 7” Casing Shoe TD 1976mMD 4-1/2” Slotted Liner 14

16. Slide 16: Alameda-2 Test Sequence

    Alameda-2 Test Sequence 13-3/8” Casing Shoe Run Bridge Plug Unit-1A DST-1 to Isolate Unit-2 Open Hole Unit-1B Unit-2 DST-3 Perforated Unit-3 DST- 2 7” Casing Shoe TD 1976mMD 4-1/2” Slotted Liner 15

17. Slide 17: Alameda-2 Test Sequence

    Alameda-2 Test Sequence 13-3/8” Casing Shoe Perforate Unit-1B, Unit-1A DST-1 Run DST String and Open Hole Flow Test DST-4 Unit-1B DST-4 Perforated Unit-2 DST-3 Perforated Unit-3 DST- 2 7” Casing Shoe TD 1976mMD 4-1/2” Slotted Liner 16

18. Slide 18: Alameda-2 Test Sequence

    Alameda-2 Test Sequence 13-3/8” Casing Shoe Complete well as a Unit-1A DST-1 Unit-1B Producer Open Hole Unit-1B DST-4 Perforated Unit-2 DST-3 Perforated Unit-3 DST- 2 7” Casing Shoe TD 1976mMD 4-1/2” Slotted Liner 17

19. Slide 19: Alameda-2 Test Sequence – Tested Intervals

    Alameda-2 Test Sequence 13-3/8” Casing Shoe Tested Intervals Unit-1A DST-1 Open Hole Unit-1B DST-4 Perforated Unit-2 DST-3 Perforated Unit-3 DST- 2 7” Casing Shoe TD 1976mMD 4-1/2” Slotted Liner 18

20. Slide 20: Alameda-2 Test Sequence

    Alameda-2 Test Sequence Resistivity borehole image located directly opposite the Unit 1B perforations. High density of natural fractures are the contributing factor to high oil flow rate. 19

21. Slide 21: Structural Interpretation – Correlation between Alameda-1 and Alameda-2

    Structural Interpretation – Correlation between Alameda-1 and Alameda-2 Unit 1A heavier oil (12° API) Shale seal Unit 1B lighter oil (19° API) Unit 2 Footwall repeat of Unit 1B Unit 3 Alameda-2 Fault repeated above Alameda-1 Unit 3 Unit 3 Alameda-1 Oil Terminal 20

22. Slide 22: Summary of Alameda-2 appraisal results to date

    Summary of Alameda-2 appraisal results to date  Unit 1A recovered 11.7° API oil with 3,783 cP viscosity at surface from a 63 metre MD interval starting from 445 metres MD. Flow rates at surface not established but 40 barrels of oil flowed unassisted to surface (through a 32/64” choke), exceeding ex

23. Slide 23: Forward Program

    Forward Program Alameda • intercepted down dip. Potential for more interval thickness. Alameda + Marti • High formation pressures. • Quality oil shows. • Together, potential for higher recoveries unassisted at surface. Oil Terminal 22

24. Slide 24: Melbana Energy Limited contact details

    Melbana Energy Limited ABN 43 066 447 952 Mezzanine Floor, 388 George Street Sydney NSW 2000 AUSTRALIA Contact Telephone: +61 (2) 8323 6600 Email: admin@melbana.com

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