Aussie oil and gas firm Melbana Energy extends gains into second day
26/06/2024 04:23
** Shares of Australian oil and gas explorer Melbana Energy
MAY.AX rise as much as 15.6% to A$0.056, their highest level
since June 17
** Top gainer in the ASX All Ordinaries index .AORD
** Melbana stock extends gains into a second straight day,
after it ended 20% higher on Tuesday following a testing launch
at Alameda Reservoir at a Cuba project
** Announcement came a week after MAY said test results at
Marti reservoir at the same project were not expected, resulting
in stock slumping ~32%
** More than 6 mln shares change hands, vs the 30-day
average of 9.2 mln shares
** MAY stock down 36% this year, as of last close
(Reporting by Sameer Manekar in Bengaluru)
((Sameer.Manekar@thomsonreuters.com; Twitter: https://twitter.com/sameer_manekar))