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Melbana Energy Limited ( (AU:MAY) ) has shared an announcement.
Melbana Energy Limited has commenced drilling the Amistad-2 production well in Cuba, targeting a depth of 1125 meters. This operation is strategically positioned near a localised anticline, which is expected to have significant natural fracturing, potentially enhancing the company’s resource extraction capabilities and strengthening its market position in the region.
More about Melbana Energy Limited
Melbana Energy Limited is an Australian company operating in the energy sector, focusing on the exploration and development of oil and gas resources. The company is involved in projects primarily in Cuba and Australia, aiming to leverage geological formations for resource extraction.
Average Trading Volume: 5,385,826
Technical Sentiment Signal: Sell
Current Market Cap: A$64.29M
See more data about MAY stock on TipRanks’ Stock Analysis page.