Melbana Energy Ltd
Melbana Energy Limited is an Australia-based independent oil and gas company that has a portfolio of exploration, appraisal and development stage opportunities in Cuba and Australia.
The business
Melbana Energy Limited is an Australia-based independent oil and gas company that has a portfolio of exploration, appraisal and development stage opportunities in Cuba and Australia. Its principal activities include oil and gas exploration in Cuba and Australia, together with development of concepts for the Tassie Shoal Methanol and LNG Project. Its Block 9 PSC covers 2,344 square kilometers (km2) onshore on the north coast of Cuba, 140 km east of Havana in a proven hydrocarbon system and along trend with the multi-billion-barrel Varadero oil field. Its Santa Cruz oil field is located approximately 45 km (kilometers) from Havana between Boca de Jaruco and Canasi oil fields and approximately 150 km west of Melbana’s existing Block 9. It has a 100% interest in two contiguous licences, WA-544-P and NT/P87, covering an area of almost 4,000 Km2 in the Petrel sub-basin. It has a 100% interest in petroleum exploration permit AC/P70, located in the Territory of Ashmore and Cartier Islands.
Small Caps Research
No research on Melbana Energy Ltd yet
We cover the ASX small-cap market one company at a time. Request coverage and we’ll prioritise MAY based on demand.
Share price
Market Statistics
Valuation
Trading Activity
Performance
Latest news
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 […]
Looking for charts & signals? See the tab.
Unlock the full research library - free.
Create a free account to access every broker report, CEO interview, IPO alert, and daily market wrap. No credit card. No paywall.