Melbana Energy Limited to provide this update on its drilling operations at its Alameda-1 exploration well in its Block 9 contract area onshore Cuba. The Alameda-1 8-1/2 hole section has now been drilled through the Vega Alta seal and is currently at a depth of 3,200m within the first of the Primary Targets referred to as the N Sheet. Strong oils shows have been recorded from limestones within the unit.

Free oil has been observed within the mud system at surface along with elevated mud gas readings and associated hydrocarbon fluorescence of up to 95%. The high quality shows have been recorded from 3,055 to 3,200mMD to date (over a gross interval of 145m) to date which also contains zones with good indications of fracturing (that is likely to provide enhanced deliverability from the reservoir). There was also fluorescence (but not as high gas) starting at 2,900m with some oil in samples and on shakers from 2,950mMD.

After completing a wiper trip, drilling is now continuing through the N Sheet toward the prognosed base of the interval expected at ~3,400m. Further information will become available once wireline logs have been acquired over the interval and interpreted.