Melbana Energy Lifts Australian Resources as Cuban Well Flows Water-Only

The latest update is out from Melbana Energy Limited ( (AU:MAY) ).

During the December 2025 quarter, Melbana Energy advanced its Cuban and Australian assets, producing 3,101 barrels of crude from the Alameda-2 well in Block 9 before shutting it in to facilitate the planned Amistad-11 twin, leaving closing inventories at about 36,700 barrels. In Cuba, the Amistad-2 appraisal well was drilled deeper than planned to 2,000 metres, encountered substantial net reservoir with good porosity and high permeability but flowed only water on test, indicating the reservoir there is not in communication with Alameda-2, while low-cost 2D seismic was also acquired. In Australia, Melbana materially upgraded the unrisked prospective resources in its 100%-owned AC/P70 permit, with gas estimates rising 3.7% to 2,857 Bcf and oil by 81% to 78 million barrels, and ended the quarter with $4.38 million in cash, underscoring both the technical challenges in Cuba and the growing exploration potential offshore Australia.

The most recent analyst rating on (AU:MAY) stock is a Hold with a A$0.01 price target. To see the full list of analyst forecasts on Melbana Energy Limited stock, see the AU:MAY Stock Forecast page.

More about Melbana Energy Limited

Melbana Energy Limited is an Australia-based oil and gas exploration and production company with assets in Cuba and offshore northern Australia. The company operates the Block 9 Production Sharing Contract in Cuba with a 30% participating interest and holds 100% of the AC/P70 permit area in Australian waters, focusing on crude oil production, appraisal drilling and the development of prospective gas and oil resources.

Average Trading Volume: 6,992,603

Technical Sentiment Signal: Sell

Current Market Cap: A$37.82M

For a thorough assessment of MAY stock, go to TipRanks’ Stock Analysis page.