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The latest update is out from Melbana Energy Limited ( (AU:MAY) ).
Melbana Energy Limited has commenced mobilization for the drilling of the Amistad-11 well in Block 9, Cuba, with drilling expected to start by the end of November 2025. The new well aims to twin the successful Alameda-2 well, leveraging advanced well design and formation management techniques to enhance production rates. This strategic move reflects Melbana’s proactive approach to optimizing its operations and underscores its commitment to improving oil recovery in the region, potentially impacting its market position and stakeholder interests positively.
More about Melbana Energy Limited
Melbana Energy Limited operates in the energy sector, focusing on oil exploration and production. The company is involved in onshore oil projects, particularly in Block 9 PSC in Cuba, where it holds a 30% interest.
YTD Price Performance: -62.96%
Average Trading Volume: 8,688,103
Technical Sentiment Signal: Sell
Current Market Cap: A$37.82M
See more data about MAY stock on TipRanks’ Stock Analysis page.