Page 20 - LatAmOil Week 44 2020

LatAmOil NEWS IN BRIEF LatAmOil

Cuba: Melbana Energy on October 27, 2020 ahead of schedule. Design- Chinook-1 well prior to the end of 2020. The
ing a production testing programme for Chi-
programme includes coordinating the mobili-
provides quarterly activities nook-1 that may commence prior to the end zation of the test equipment and service rig to
of 2020. Formal amendment for a nine-month begin testing immediately upon casing the Cas-
summary for Q3-2020 extension of the exploration phase of the Ortoire cadura Deep-1 well. This expectation is subject
exploration and production licence expected to a number of uncertainties, including receipt
Melbana Energy has provided a summary in shortly. Advanced negotiations of the natural of required regulatory approvals, weather, and
relation to its activities during the quarter ended gas sales agreement with the National Gas Com- drilling operations at Cascadura Deep-1.
September 30, 2020. pany of Trinidad and Tobago (NGC). Regulatory “Touchstone has been formally notified by
During the quarter ending September 30, approvals pending to commence pipeline and the Trinidad and Tobago Ministry of Energy and
2020, Melbana reached the following milestones surface facility operations on the Coho-1 well. Energy Industries that the exploration phase of
in relation to its Cuban Block 9 drilling pro- Paul R. Baay, President and Chief Executive Ortoire exploration and production licence has
gramme: formal regulatory approval received Officer, commented: “I am delighted to report been approved by the government for a nine-
for the entry of Sonangol into the Block 9 Pro- that the team continues to push forward with month extension to July 31, 2021. In addition,
duction Sharing Contract. As a result, all Con- operations at Cascadura Deep-1 and Chinook-1 the Company’s 2D seismic commitment has
ditions Precedent of the Farm-In Agreement1 ahead of schedule. While the pandemic has been reduced from 85 line-km to 20 line-km.
were satisfied and Sonangol received a 70% par- caused delays regarding the tie-in of Coho-1, we In exchange for the extension and seismic pro-
ticipating interest (85% working interest) of the are pleased to have received initial approvals for gramme reduction, the Company has agreed to
costs of the 2 well drilling programme (Melbana the extension of the Ortoire licence, a recogni- drill an additional well to a true vertical depth
as operator); international tenders for services tion of the Trinidad Government’s commitment of 10,000 feet [3,048 metres] prior to June 2021.
and materials completed, award recommenda- to this exploration programme and a reward for The formal amending document has yet to be
tions made to joint venture partners; contracts the recent exploration success that Touchstone executed by all participating parties.
entered into for recording baseline environmen- has enjoyed. This extension will provide us with “The Company is awaiting final approval of
tal conditions, establishment of survey points, the time required to drill an additional well and the required Certificate of Environmental Clear-
execution of civil works and provision of camp complete the required seismic programme in the ance to commence Coho-1 surface facility oper-
facilities for the construction of the well pads and first half of 2021. I ask shareholders to continue ations, which is anticipated to be received by the
related infrastructure; preparatory works for the to be patient with us as we move forward and end of November. As a result of the COVID-19
construction of the well pad for Alameda-1 com- finalize the gas purchase agreement with NGC, pandemic, the process was delayed due to com-
menced; Melbana received payments of $2.4mn and I look forward to providing an update to the munity consultations that were required to be
towards its Past Costs of about $5.0mn during market in due course. performed on a one-on-one basis versus a tradi-
the quarter with the balance being received after “Touchstone is pleased to announce that tional town hall meeting format.
the quarter’s end. we have spudded the Cascadura Deep-1 well “Upon receipt of approval and the required
Drilling of Alameda-1 is expected to com- ahead of schedule. We are currently drilling the notice period, field operations are expected to
mence in mid-Q1-2021 but remains dependent surface hole to a planned casing depth of 900 begin within approximately 30 days. Touchtone
on long lead items being deliver on schedule and feet [274 metres]. The surface location is on the has all of the required equipment in Trinidad to
the continued relaxation of COVID-19 manage- same drilling pad as the previously drilled Cas- mobilize and therefore expects first production
ment practices currently in place in Cuba. cadura-1ST1 well with the bottom hole location from the Coho-1 well late in the first quarter of
Existing Melbana personnel in Cuba, sup- anticipated to be 1,300 feet [396 metres] to the 2021.
plemented by experienced local personnel sec- south-east. The well is targeting three distinct “The Company continues to negotiate the
onded from the proposed drilling contractor, Herrera thrust sheets and is designed for a total final details of the natural gas sales agreement
have been engaged to supervise these works and depth of 10,600 feet [3,230 metres]. The cur- with NGC. The agreement, which includes all
to assist with their being conducted as efficiently rent drilling plan is based on a 45-day drilling future natural gas sales from the Ortoire block,
as possible. It is expected senior members of the schedule. is anticipated to be executed prior to the end of
project management team will start to arrive in “As a result of the advancement of the Cas- the year.
country towards the end of 2020. cadura Deep-1 well, the Company is design- James Shipka, Chief Operating Officer, com-
Melbana Energy, November 02 2020 ing a programme to commence testing of the mented: “As we near the end of the first phase of
our Ortoire exploration drilling programme, we
Touchstone announces are continuing to see the tremendous potential
of the block. Our subsurface team continues to
operational update and refine their geological and geophysical models
based on the initial success of our exploration
spudding of Cascadura programme, and the Company is now building
a significant inventory of both development and
Deep-1 well exploration locations on the property. With suc-
cess at Coho, Cascadura, and now Chinook, we
Touchstone Exploration has announced an have identified an inventory of up to 10 devel-
operational update, highlighted by the spudding opment wells offsetting our discoveries. At the
of the Cascadura Deep-1 exploration well on the same time, the team has identified a further 21
Ortoire onshore exploration block (Touchstone exploration prospects on the block which will
80% working interest operator, Heritage Petro- represent our second phase of exploration at
leum Company 20% working interest). Ortoire.”
Highlights: Cascadura Deep-1 was spudded Touchstone Exploration, October 29 2020

P20 www. NEWSBASE .com Week 44 05•November•2020