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Melbana Energy Limited ( (AU:MAY) ) just unveiled an announcement.
Melbana Energy Limited has commenced continuous oil production from the Amistad-2 well in Block 9, Cuba, marking a significant milestone with a crude inventory exceeding 22,000 barrels by the end of June 2025. The company has completed civil works and received necessary permits for drilling Amistad-2 and Amistad-3, with the latter’s preparations nearly finished, indicating a strategic advancement in their Cuban operations.
The most recent analyst rating on (AU:MAY) stock is a Buy with a A$0.08 price target. To see the full list of analyst forecasts on Melbana Energy Limited stock, see the AU:MAY Stock Forecast page.
More about Melbana Energy Limited
Melbana Energy Limited is an energy company that operates in the oil and gas industry. It focuses on exploration and production activities, with significant operations in Cuba, where it holds a 30% participating interest in Block 9 PSC and serves as the operator.
Average Trading Volume: 1,741,679
Technical Sentiment Signal: Sell
Current Market Cap: A$77.51M
For detailed information about MAY stock, go to TipRanks’ Stock Analysis page.