Melbana Energy Limited (AU:MAY) has released an update.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Melbana Energy Limited reports the perforation of Block 9’s Alameda reservoir in Cuba was successful, with a significant pressure response at the surface, but the flow testing did not recover drill string fluids or uncontaminated oil samples. Similar appraisal challenges were faced with the deeper Marti reservoir, prompting studies to understand the discrepancies in reservoir behavior. The company remains focused on its plan to export the first shipment of oil from the Amistad structure within the year.
For further insights into AU:MAY stock, check out TipRanks’ Stock Analysis page.