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The latest update is out from Melbana Energy Limited ( (AU:MAY) ).
Melbana Energy Limited reported significant progress in its projects during the quarter ended March 31, 2025. In Cuba, the company commenced the workover of the Alameda-2 well and began constructing infrastructure for the Amistad-2 well, aiming to enhance production and prepare for the export of its first cargo. In Australia, Melbana announced a maiden Prospective Resource and Contingent Resource for its AC/P70 project, indicating substantial potential for future development. The company ended the quarter with $7.6 million in cash, underscoring its financial stability as it advances its strategic initiatives.
More about Melbana Energy Limited
Melbana Energy Limited operates in the energy sector, focusing primarily on oil and gas exploration and development. The company holds interests in various projects, including Block 9 PSC in Cuba and AC/P70 in Australia, with a market focus on expanding its resource base and production capabilities.
Technical Sentiment Signal: Buy
Current Market Cap: $55.93M
For an in-depth examination of MAY stock, go to TipRanks’ Stock Analysis page.