Melbana Energy Ltd
Melbana Energy overcomes mechanical issues with workover program success at Block 9 in Cuba
Melbana Energy (ASX: MAY) appears to have overcome formation issues that have hampered development plans at its Block 9 operation in Cuba. Melbana’s share price was up more than 35% in Tuesday morning trade after it reported that a successful workover of the Unit 1B reservoir within the Block 9 operations onshore Cuba had delivered […]
Weekly wrap: miners push towards new record but banks hold back
It was a close-run thing but the Australian market missed out on setting a new record on Friday thanks mainly to a rare downward pull from the big banks. At one stage the ASX 200 traded at 8143.6 points – just 5 points away from the record high set in August – but the drag […]
Melbana Energy to become oil producer following Cuban project approval
Investors have flooded into the stock of Melbana Energy (ASX: MAY) after news that its Cuban oil development plans are set to go ahead. Melbana’s share price jumped more than 60% at one point after the company announced it is set to become a producer for the first time, following approval for the Block 9 […]
Melbana Energy initiates crucial testing at Alameda-3 well in Cuba amid previous setbacks
Australian oil and gas junior Melbana Energy (ASX: MAY) has commenced a key test program that it hopes will find answers to disappointing flow results at its onshore Alameda-3 appraisal well in Cuba. Melbana is currently undertaking flow testing over the 3,272 to 3,450-metre interval in the well to determine oil quality and flow rates […]