Australia's Melbana Energy jumps on drilling resumption plans at Cuba project
26/11/2021 02:56
** Shares of the oil & gas explorer MAY.AX rise as much as
9.1% to A$0.024, on track for their biggest intraday percentage
gain since Nov. 10
** Co says it has begun preparing for resumption of drilling
operations at its Alameda-1 well in onshore Cuba urn:newsml:reuters.com:*:nASX7fQGNd
** MAY previously stopped drilling the well due to a high
pressure zone which was detected shallower than expected
** Adds that sufficient supplies of mud and other materials
which are vital to manage high pressures have now been secured
and scheduled to arrive in Cuba next week
** Shares hit their highest since Nov. 12
** Stock has risen 85.6% this year as of last close
(Reporting by Roushni Nair in Bangalore.)
((Roushni.Nair@thomsonreuters.com))