Melbana Energy soars on hydrocarbon pay hike from Cuba operations
07/04/2022 06:58
** Shares of Melbana Energy Ltd MAY.AX surge as much as
33.3% to A$0.18, set for best session since Feb. 24, if gains
hold
** The oil and gas explorer says Alameda-1 exploration well
confirmed presence of oil across significant intervals in three
structures urn:newsml:reuters.com:*:nGLF46Cpcv
** Adds that logging of these three intervals allows co to
estimate substantial net hydrocarbon pay of 278 mTVD in
aggregate
** Stock hits highest level since March 18
** More than 94.2 mln shares change hands, compared with the
30-day average volume of about 59.8 mln shares
** Stock has risen over six times this year, as of last
close
(Reporting by Jaskiran Singh in Bengaluru)
((Jaskiran.Singh@thomsonreuters.com;))