Past year: ▼ 77%(0.30c – 1.50c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
21 Aug 2025investor presentation● Neutral
Corporate presentation dated 19 August 2025 giving a general overview of the company, including the 46 MMbbl Cuba contingent resource. Text shown is mostly disclaimers; no new announcement is evident from the readable portion.
31 July 2025admin correction● Neutral
Corrects a typo in the June quarter highlights: production since mid-April came from Alameda-2, not Amistad-2. No other changes.
14 May 2025production update▲ Good
Alameda-2 has produced continuously since mid-April, with over 15,000 barrels stored and the first shipment expected end of June. Amistad-2 pad and permits are ready; Amistad-3 civil works begun. Company says financing talks continue and expects a final investment decision before year end.
15 Apr 2025well test result▲ GoodMajor
Alameda-2 workover succeeded: a 12-hour test averaged 488 bopd versus 293 bopd before, a 66% rise, though below the 1,235 bopd originally achieved. Well is on full-time production; Amistad-2 drilling expected to start late May. Alameda-3 may also be remediable.
7 Mar 2025other▼ Bad
S&P index notice listing quarterly rebalance changes; Melbana (MAY) is among the companies removed from the All Ordinaries effective 24 March 2025. It carries no company news; it reverses the March 2023 inclusion.
7 Mar 2025half year report▼ Bad
Half-year to December 2024 shows a loss of $1.99m (versus $0.70m a year earlier). Report restates the Block 9 plan: Alameda-2 acid workover, then Amistad-2 and Amistad-3 wells, with the workover awaiting the service rig.
26 Feb 2025resource reserve update▲ GoodMajor
Maiden resource estimates for AC/P70 (100%): Contingent Resource 276 Bcf gas and 34 MMbbl oil (best estimate) at the Vesta and Swan discoveries, plus Prospective Resource 2,754 Bcf and 43 MMbbl. An advisor is appointed to find a partner to fund work.
7 Jan 2025security holder rights change● Neutral
Melbana set up a sale facility for holdings worth under $500 (18,518 shares or fewer at $0.027), covering over 2,375 of about 8,270 holders. Unless they opt out by 3 March 2025, shares are sold free of brokerage, cutting admin costs.
19 Dec 2024regulatory community update● Neutral
Cuba Block 9 2025 work plan and budget approved by partner and regulator, and Melbana's subsidiary approved as Cuban operator. Hurricane shipping delays push the Alameda-2 workover to January, with Amistad-2 drilling to follow immediately; civil works permits received.
6 Dec 2024admin correction● Neutral
Melbana corrected its FY24 governance checklist: it should not have ticked full compliance on audit committee composition, as the committee has 3 members including 1 executive director, and the website link was missing.
27 Sept 2024annual report▼ Bad
FY2024 annual report calls Alameda-3 a disappointment and says the earlier 5,000 bopd by end-2024 goal is probably not achievable, now hoped for in Q1 or Q2 2025. The first trial cargo is still targeted by end-2024.
27 Sept 2024admin correction● Neutral
Corporate governance checklist (Appendix 4G) for FY2024, lodged with the annual report. Administrative filing with no new business information.
19 Sept 2024regulatory community update▲ GoodMajor
Melbana was granted offshore permit WA-552-P in the Dampier Sub-basin through a wholly owned subsidiary. The first three years require only desktop work costing about A$0.8m, with a A$30m well in year 6 at Melbana's election.
11 Sept 2024regulatory community update▲ GoodMajor
Initial Unit 1B development approved by partner and regulator, with construction approved for the next well pad and export approvals in place. Alameda-2 remediation is planned for November, aiming to restore 1,235 bopd; first cargo is still targeted for end-2024. Alameda-3 deeper remediation is deferred.
31 July 2024director officer appointment● Neutral
CFO Uno Makotsvana also becomes Company Secretary, after Cate Friedlander resigned from that role on 30 July 2024. Administrative change.
11 July 2024investor presentation● Neutral
Shareholder webinar slides on the Block 9 update, announced earlier. The extract shows only the disclaimers and agenda, with no new results visible.
9 July 2024investor presentation● Neutral
Notice of an investor webinar on 11 July 2024 on the Amistad Unit 1B development plan and the Alameda-3 results. This is an invitation only, with no new results.
27 June 2024well test result▼ BadMajor
The Alameda reservoir test also failed to flow oil to surface, with only 14% of load fluid recovered, matching the Marti failure. Melbana is unsure whether the cause is emulsion or rock-mud reaction, and will suspend the well to plan remediation. It says the Unit 1B plan for first export this year is unaffected.
25 June 2024flow test result● Neutral
Flow testing began on the Alameda reservoir over 3,272-3,450mMD, planned for up to 5 days. Preliminary lab results put the Marti oil at 18.9°API with 2.3% sulphur. Melbana says the Marti test shortfall may reflect emulsions, and has adjusted this test design.
17 June 2024well test result▼ BadMajor
Alameda-3 reached 3,880mMD, but the Marti reservoir test did not flow oil to surface; oil was only recovered on reverse circulation. Melbana suspects emulsions in the test string. This is a setback versus Alameda-1, where Marti oil flowed unassisted. Testing moves to the Alameda reservoir.
7 June 2024investor presentation● Neutral
Chief Commercial Officer's presentation on Australian offshore opportunities (AC/P70, NT/P87, WA-544-P) at a Singapore conference. The extract shows only the cover note and disclaimers, with no new information.
22 May 2024drilling progress report● Neutral
Alameda-3 logging in the Alameda reservoir was completed with good data, but a stuck setting tool delayed drilling; it was retrieved and the liner integrity confirmed. Drilling resumes shortly toward about 3,835mMD. Field development plan was presented to Sonangol and the regulator, targeting first Unit 1B oil sales by end-2024.
16 May 2024investor presentation● Neutral
Exploration Manager's technical presentation on Cuba to a PESA lunch in Brisbane. The extract shows only the title and disclaimers, with no new results visible.
2 May 2024price query● Neutral
ASX queried a share price move (high $0.056 to low $0.043) and a jump in trading volume. Melbana replied it knew of no undisclosed information and had no other explanation, and confirmed it was complying with disclosure rules.
18 Apr 2024drilling progress report● Neutral
Alameda-3 reached the base of the Alameda reservoir at 3,645mMD, with elevated gas indicating hydrocarbons and two cores taken. Drilling was behind schedule, with a stuck tool and a pressure kick. Logging and a 7-inch liner come next, then the Marti reservoir.
25 Mar 2024resource reserve update▲ GoodMajor
McDaniel booked Melbana's first Contingent Resource in Block 9: 46 million barrels (100% basis) in Amistad Unit 1B's eastern area, plus 90 million barrels Prospective in the west. This compares with 30 million barrels Prospective for Units 1A and 1B combined before Alameda-2. Goal remains first export cargo before end-2024.
12 Feb 2024regulatory community update▲ GoodMajor
NOPTA approved an 18-month suspension of work conditions on WA-544-P and NT/P87 (100%), to 23 May 2025, with permit terms extended to 23 May 2028. This gives time to study the Hudson prospect (395 MMbbl mean oil) before any 3D seismic decision. Melbana still intends a partial farmout.
1 Feb 2024well test result● Neutral
Alameda-3 test of Amistad Unit 3 confirmed moveable oil at surface, with no formation water, similar to Alameda-2. Inflow was about 37 bopd, and the well killed itself, so no rate was measured. Drilling resumes toward the deeper Alameda and Marti reservoirs.
20 Dec 2023investor presentation● Neutral
Notice of an investor webinar on 20 December 2023 about Alameda-3 progress. The extract shows only the invitation and disclaimers, with no new results.
18 Dec 2023drilling spud▲ GoodMajor
Alameda-3 started drilling on 15 December 2023, planned to reach 3,835mMD in 95 days. It targets the Alameda and Marti reservoirs (179 MMbbl prospective). Unit 3 flow test is planned for late January, first deep flow test in March, and the certifier's Amistad resource report is targeted for February.
