Melbana Energy surges most in two-weeks on upbeat Cuba project update

Melbana Energy

04/08/2023 05:19

** Shares of oil and gas explorer Melbana Energy Ltd
 MAY.AX  surge as much as 15% to A$0.115, marking their biggest
intraday gain since July 21
    ** MAY says now estimating significantly higher net pay from
a well at an oil field in Cuba
    ** MAY holds a 30% stake and is operator of Block 9 PSC
onshore, an onshore area on the north coast of Cuba within a
hydrocarbon system 
    ** Stock among top gainers on the ASX All Ordinaries index
 .AORD  
    ** MAY up 58.7% YTD as of last close

 (Reporting by Shivangi  Lahiri in Bengaluru)
 ((Shivangi.Lahiri@thomsonreuters.com;))