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Melbana Energy Limited ( (AU:MAY) ) just unveiled an announcement.
Melbana Energy Limited’s 2025 AGM highlighted its ongoing efforts in Cuba’s Block 9, where it commenced continuous production from Unit 1B in the Amistad formation. Despite challenges with the Amistad-2 well, the company plans to drill a new well, Amistad-11, to enhance production. In Australia, Melbana has strengthened its exploration portfolio with new resource estimates and secured a new exploration permit. The company’s technical insights and strategic moves aim to ramp up production and achieve regular exports, positioning it for success in FY2026.
More about Melbana Energy Limited
Melbana Energy Limited operates in the energy sector, focusing on oil exploration and production. The company is primarily engaged in developing its Block 9 project in Cuba and expanding its exploration portfolio in Australia, with a market focus on increasing production and securing sustainable revenue streams.
Average Trading Volume: 8,710,805
Technical Sentiment Signal: Sell
Current Market Cap: A$37.82M
For an in-depth examination of MAY stock, go to TipRanks’ Overview page.