Melbana Energy Ltd. Stock Analysis MAY.AX

Melbana Energy Ltd. is an independent oil and gas exploration company, which engages in the provision of operating in the petroleum exploration industry within Australia and Cuba. The company is headquartered in Sydney, New South Wales. Its principal activities include oil and gas exploration in Cuba and Australia, together with development of concepts for the Tassie Shoal Methanol and LNG Project. Its Block 9 PSC covers 2,344 square kilometers (km2) onshore on the north coast of Cuba, 140 km east of Havana in a proven hydrocarbon system and along trend with the multi-billion-barrel Varadero oil field. Its Santa Cruz oil field is located approximately 45 km (kilometers) from Havana between Boca de Jaruco and Canasi oil fields and approximately 150 km west of Melbana’s existing Block 9. The company has a 100% interest in two contiguous licences, WA-544-P and NT/P87, covering an area of almost 4,000 Km2 in the Petrel sub-basin. The company has a 100% interest in petroleum exploration permit AC/P70, located in the Territory of Ashmore and Cartier Islands.