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Melbana Energy Limited ( (AU:MAY) ) has provided an announcement.
Melbana Energy Limited reported continuous oil production from its Alameda-2 site in Cuba, with a crude inventory exceeding 33,000 barrels by the end of September 2025. The company also commenced drilling at the Amistad-2 site, despite logistical challenges due to hurricane damage and power outages in Cuba. In Australia, Melbana received approval to modify its work commitments, shifting from acquiring 3D seismic data to conducting geological and geophysical studies. The company ended the quarter with $13.4 million in cash, indicating a stable financial position.
More about Melbana Energy Limited
Melbana Energy Limited operates in the energy sector, focusing on oil exploration and production. The company has a significant presence in Cuba and Australia, where it engages in activities such as crude oil production and geological studies.
YTD Price Performance: -37.04%
Average Trading Volume: 7,476,483
Technical Sentiment Signal: Sell
Current Market Cap: A$64.29M
See more data about MAY stock on TipRanks’ Stock Analysis page.