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Melbana Energy Limited (ASX:MAY)

ALERT: Price-sensitive ASX Announcement for MAY
Current share price for MAY : $0.005 -0.006 (-55%)+
Announcement
Release
28 Jan 2026 4:26PM
Price at Release
$0.010
Full Release
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Summary
Melbana Energy Limited reported its quarterly activities for the period ending December 31, 2025. Key developments include the management of operations in Cuba's Block 9, where the Alameda-2 well was shut-in due to damage, and the drilling of Amistad-2, which did not recover oil. In Australia, Melbana increased its prospective gas and oil resources in the AC/P70 permit. The company held $4.38 million in cash at the end of the quarter and reported no lost time safety incidents. Payments to related parties were highlighted, amounting to $138,000.
Key Points
  • Melbana Energy Limited reported on activities for the quarter ending December 31, 2025.
  • Melbana has a 30% interest in Block 9 PSC in Cuba and is the operator.
  • Alameda-2 was shut-in due to formation damage, and Amistad-11 drilling was planned.
  • Amistad-2 was drilled to a total depth of 2,000 meters, but no oil was recovered.
  • In Australia, Melbana's AC/P70 prospective gas resource increased by 3.7% and oil resource by 81%.
  • Corporate cash available was $4.38 million at the end of the quarter.
  • No lost time incidents were reported during the quarter.
  • Payments to related parties totaled $138,000, primarily for directors' fees.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.