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Melbana Energy Limited (ASX:MAY)

ALERT: Price-sensitive ASX Announcement for MAY
Current share price for MAY : $0.005 -0.001 (-16.67%)+
Announcement
Release
18 Jun 2026 9:57AM
Price at Release
$0.006
Full Release
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Summary
Melbana Energy Limited announced an operational update regarding its Block 9 Production Sharing Contract (PSC) in Cuba, where it holds a 30% interest. The update follows the U.S. Department of State's designation of Cuba's state-owned oil and gas company CUPET as a Specially Designated National (SDN), complicating Melbana's operations in Cuba due to potential secondary sanctions. Operations were already halted since late 2025 due to a partner's non-payment. Melbana is currently seeking external advice regarding the implications of these developments and has suspended participation in the PSC pending this review.
Key Points
  • Melbana Energy holds a 30% interest in Block 9 PSC in Cuba.
  • CUPET was designated as a Specially Designated National by the U.S.
  • Operations halted since late 2025 due to partner's non-payment.
  • Melbana suspended participation pending a review of new sanctions.
  • The company is consulting with advisors on the implications of U.S. sanctions.
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.