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Melbana Energy Limited (AU:MAY)
ASX:MAY
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Melbana Energy Limited (MAY) AI Stock Analysis

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AU:MAY

Melbana Energy Limited

(Sydney:MAY)

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Neutral 45 (OpenAI - 5.2)
Rating:45Neutral
Price Target:
AU$0.01
▲(0.00% Upside)
Action:Reiterated
Date:08/04/26
The score is held down primarily by weak financial performance—no recent revenue, persistent operating losses, and consistently negative operating/free cash flow—despite the mitigating strength of low leverage on the balance sheet. Limited technical data results in a neutral technical contribution, while valuation remains pressured by losses (negative P/E) and no available dividend yield.
Positive Factors
Low leverage / strong balance sheet
A minimal debt load is a durable strength for an exploration company: it lowers fixed financial obligations, preserves flexibility to pursue multi-year exploration programs, and reduces refinancing risk. This supports continuing operations and partner negotiations during long project timelines.
Negative Factors
No recent revenue / persistent operating losses
Sustained absence of operating revenue and recurring operating losses indicate the company has not yet converted exploration activity into commercial production. Over the medium term this elevates business risk, increases dependency on successful drilling outcomes and hampers ability to self-fund future work programs.
Read all positive and negative factors
Positive Factors
Negative Factors
Low leverage / strong balance sheet
A minimal debt load is a durable strength for an exploration company: it lowers fixed financial obligations, preserves flexibility to pursue multi-year exploration programs, and reduces refinancing risk. This supports continuing operations and partner negotiations during long project timelines.
Read all positive factors

Melbana Energy Limited (MAY) vs. iShares MSCI Australia ETF (EWA)

Melbana Energy Limited Business Overview & Revenue Model

Company Description
Melbana Energy Limited, a company founded in 1994 and based in Sydney, Australia, is engaged in the exploration for oil and gas across both Cuba and Australia. Its assets in Australia include complete ownership of the Tassie Shoal Methanol and LNG...
How the Company Makes Money
Melbana Energy’s earnings potential is primarily tied to upstream oil and gas value creation, which typically monetises in several ways: (1) Hydrocarbon production and sales: If an asset reaches development and production, revenue is generated fro...

Melbana Energy Limited Financial Statement Overview

Summary
Financials are constrained by weak operating performance and cash burn: revenue dropped to zero in FY2023–FY2025, EBIT is negative in every year shown, and operating/free cash flow are consistently negative with large outflows in FY2024–FY2025. The main offset is a relatively strong balance sheet with minimal debt and sizable equity, which reduces near-term financial risk but does not resolve profitability and cash-flow sustainability.
Income Statement
24
Negative
Balance Sheet
72
Positive
Cash Flow
18
Very Negative
BreakdownTTMJun 2025Jun 2024Jun 2023Jun 2022Jun 2021
Income Statement
Total Revenue0.000.000.000.0010.39M1.10M
Gross Profit-99.57K-5.89K-135.00K-126.00K-121.64K1.08M
EBITDA-1.71M-3.67M3.60M-563.00K6.51M-1.81M
Net Income-3.98M-4.15M3.26M-1.00M6.33M-1.40M
Balance Sheet
Total Assets95.21M80.17M96.35M58.21M50.25M15.60M
Cash, Cash Equivalents and Short-Term Investments4.40M5.12M12.32M34.98M35.57M10.68M
Total Debt0.000.000.00130.82K0.000.00
Total Liabilities31.75M24.24M40.42M5.21M13.08M8.51M
Stockholders Equity63.46M55.93M55.93M52.99M37.17M7.09M
Cash Flow
Free Cash Flow-2.36M-38.27M-69.60M-48.50M-41.34M-9.55M
Operating Cash Flow-1.99M-3.62M-3.67M-2.62M-2.12M-2.00M
Investing Cash Flow-8.53M-3.80M-18.67M-13.87M3.26M11.60M
Financing Cash Flow6.58M0.000.0015.77M23.83M-126.00K

Melbana Energy Limited Peers Comparison

Overall Rating
UnderperformOutperform
Sector (65)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
65
Neutral
$15.17B7.614.09%5.20%3.87%-62.32%
59
Neutral
AU$28.77M2.6130.01%-17.90%
56
Neutral
AU$17.25M-15.01-6.54%27.55%-60.00%
45
Neutral
AU$15.13M-40.00-6.67%-283.33%
44
Neutral
AU$41.94M-17.78-14.52%
43
Neutral
AU$16.30M-1.79-35.17%64.71%
42
Neutral
AU$19.33M-0.91-126.10%3.57%-43.48%
* Energy Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
AU:MAY
Melbana Energy Limited
0.01
-0.01
-54.55%
AU:ADX
ADX Energy
0.02
-0.01
-37.93%
AU:BRU
Buru Energy
0.01
>-0.01
-45.45%
AU:OEL
Otto Energy Limited
AU:TDO
3D Oil Limited
0.08
-0.03
-27.27%
AU:BAS
Bass Oil Ltd
0.05
0.02
60.00%

Melbana Energy Limited Corporate Events

Melbana Energy Trading Reinstated After Update on Cuban Operations and Sanctions
Jun 18, 2026
Trading in Melbana Energy Limited shares on the ASX has been reinstated after the company released an update on its Cuban operations and the impact of United States Government sanctions on Unión Cuba-Petróleo. The lifting of the suspensi...
Melbana pauses Cuban Block 9 support after U.S. sanctions hit CUPET
Jun 18, 2026
Melbana Energy has suspended its direct financial, technical and administrative support for the Block 9 Production Sharing Contract in Cuba after Cuba’s state-owned oil company CUPET was designated a Specially Designated National by the U.S....
Melbana Energy Halts Trading Amid U.S. Sanctions Fallout on Cuban Partner
Jun 16, 2026
Melbana Energy has requested and received a voluntary suspension of trading in its securities on the ASX, effective 16 June 2026. The move comes as the company evaluates the impact of newly imposed United States sanctions on its Cuban state-owned ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Aug 04, 2026