Melbana Energy begins drilling Amistad-2 well, amends option terms

Melbana Energy Limited announced on September 19, 2025, that drilling of the Amistad-2 production well in Cuba began on September 18, 2025. The well is planned for a total depth of 1125 meters measured depth (MD), targeting a 650-meter MD section of the Unit 1B formation. This aims to intersect natural fracture systems and a carbonate reservoir approximately 850 meters southwest of Alameda-2.

The company also issued an addendum to its Notice of Extraordinary General Meeting, scheduled for October 15, 2025. This addendum primarily amends the terms and conditions for up to 25,000,000 unlisted JLM Options with an exercise price of A$0.02. These options, to be issued to Bell Potter Securities Limited and PAC Partners Securities Pty Limited for services related to a placement, will now carry bonus options and be transferable, with Melbana Energy considering applying for their quotation on the ASX.