Past year: ▼ 77%(0.30c – 1.50c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
31 July 2026quarterly activities report▼ BadMajor
June quarter: cash fell to $0.47m and the company says continued activity depends on recovering Sonangol's debt (now $34.8m owed) or raising other funds. Block 9 support is suspended after the CUPET sanctions. Sonangol's 70% transfer awaits Cuban approval. Costs are being cut.
18 June 2026regulatory community update▼ BadMajor
Following the US sanctions on CUPET, Melbana has suspended its direct financial, technical and administrative support for Block 9 and is taking legal advice, including on secondary sanctions risk. No conclusions yet. Melbana itself is not designated; Australian permits are unaffected.
18 June 2026other● Neutral
ASX notice that MAY's suspension will lift once the Cuba and sanctions update is released. Procedural only.
16 June 2026price query▼ BadMajor
Melbana requested a voluntary trading suspension after the US designated Cuba's state oil company CUPET, its Block 9 counterparty, as a sanctioned entity on 11 June. The company calls Block 9 its principal asset and cannot yet say the impact. Suspension to last up to 18 June.
30 Apr 2026other● Neutral
41,368,629 performance rights issued to Purcell (28.0m) and CFO Makotsvana (13.3m). They vest only if the share price holds $0.10 or $0.15 for 20 days, by mid-2027 and end-2028 respectively. Purcell's grant was approved at the 20 November AGM.
24 Apr 2026other● Neutral
Principal place of business and registered office moved to Suite 11.01, 109 Pitt Street, Sydney, with immediate effect. Phone and email unchanged. Administrative.
20 Apr 2026joint venture update● NeutralMajor
Sonangol failed to cure its default on US$23.5m of unpaid cash calls, so Melbana says Sonangol is deemed withdrawn and its 70% will transfer to Melbana, giving 100% of Block 9 subject to Cuban approval. Amistad-2 missed its target through a subsurface misinterpretation; Amistad-1 produces about 20 bopd.
10 Apr 2026quarterly activities report▼ Bad
March quarter: Sonangol remained in default and no payments were received. Amistad-11 still has no date. Cash fell to $2.0m from $4.38m. The $0.02 options now trade under MAYAO. Alameda-2 flowed 626 barrels while bleeding pressure; inventory 37,314 barrels.
6 Mar 2026half year report● Neutral
Half-year to 31 December 2025: loss of $1.82m versus $1.99m a year earlier. Report recaps Amistad-2 (169 m reservoir, only water on test) and the switch to Amistad-11. No dividends.
28 Jan 2026quarterly activities report▼ Bad
December quarter: Alameda-2 shut in on 2 November, with crude inventory 36,687 barrels. Cash fell to $4.38m from $13.4m at September. Amistad-11 awaits Sonangol payment, which it said it could not make in 2025. Amistad-2 drilling and test results restated.
22 Jan 2026joint venture update▼ Bad
Amistad-11 still has no spud date, since Sonangol has not provided its share of funds. Melbana reissued its default notice to Sonangol, resetting the 60-day cure period to early April 2026. Amistad-1 flowed unassisted; Amistad-2 oil analysis continues; 3D seismic planned for 2026.
14 Jan 2026other● Neutral
Top 20 holder list for the newly quoted $0.02 options expiring 12 January 2027. 436,764,704 options are on issue and the top 20 hold 78.98%. Morgan Stanley's nominee holds the largest block at 23.6%. Administrative.
14 Jan 2026other● Neutral
Distribution schedule for the $0.02 options: 79 holders share all 436,764,704 options, each holding over 100,000. Administrative data only, with no new substance.
18 Dec 2025security holder rights change● Neutral
Full prospectus for the option issue already approved at the 20 November AGM: 411,764,706 attaching options, 205,882,353 bonus options and 25m lead manager options (plus 12.5m bonus), offered only to placement participants, directors and lead managers. Duplicates the earlier summary of the lodgement.
18 Dec 2025security holder rights change● Neutral
Prospectus lodged to issue up to 411,764,706 attaching options ($0.02, one year), up to 205,882,353 bonus options ($0.03, three years) and 25m lead manager options. Approvals were obtained at the 20 November meeting; no funds are raised until exercise.
5 Dec 2025debt default or forbearance▼ BadMajor
Amistad-11 is deferred to 2026 because Sonangol (70% partner) says it cannot pay more cash calls this calendar year. Melbana is demobilising the rig and issued a Notice of Default with 60 days to cure, after which Sonangol could be required to assign its interest.
3 Dec 2025listing compliance notice● Neutral
Reply to an ASX query: Executive Chairman Andrew Purcell was last re-elected in 2018 and the company argues his executive role exempts him from rotation under Listing Rule 14.4. Company states it considers itself compliant.
21 Nov 2025agm notice● Neutral
AGM results: the remuneration report passed and the option and director-share items from the EGM were approved. Two items (10% placement capacity and proportional takeover provisions) failed. The conditional spill resolution failed, with 56.39% against.
20 Nov 2025investor presentation● Neutral
AGM address repeats known points: Amistad-2 failed for reasons not yet explained, Amistad-11 near Alameda-2 is next, and AC/P70 resources stand as before. No new figures; Amistad-3 is held back pending analysis.
17 Nov 2025drilling scheduled● Neutral
After Amistad-2, the rig is being moved to drill Amistad-11, an up-dip twin of Alameda-2 on Pad 1. Spud is targeted before end-November, subject to permits, with completion by year end. Amistad-3 is set aside while Amistad-2 data is studied.
5 Nov 2025drilling result▼ BadMajor
Amistad-2 in Cuba (30%) was drilled to 2,000 m and found 169 m of porous reservoir, but flow-testing recovered no oil, only water. Called disappointing and being plugged and abandoned. Amistad-11 may replace Amistad-3 as the next well.
27 Oct 2025quarterly activities report● Neutral
September quarter: Alameda-2 added 10,723 barrels, taking stored crude to 33,586 barrels; Amistad-2 spudded 18 September. Cash was $13.4m at quarter end, up from $5.1m after the August placement. Hudson farmout continues.
20 Oct 2025agm notice● Neutral
Letter telling shareholders the AGM is on 20 November 2025, with materials online only and proxies due 18 November. Administrative notice only.
15 Oct 2025agm notice● Neutral
The EGM's only resolution, ratifying the August placement shares, passed on a poll with 56.76% for and 43.24% against. This is a fairly narrow margin for a ratification of shares already issued.
14 Oct 2025security holder rights change● Neutral
Withdrawn option and director-share resolutions are deferred to the 20 November AGM, to give shareholders more time. If not approved, options use existing placement capacity; the $120,000 of director shares would not be issued, reducing the raise.
13 Oct 2025agm notice● Neutral
Board withdrew Resolutions 2-6 from the 15 October EGM: the placement's attaching options, lead manager options and director share subscriptions. Only Resolution 1 proceeds. Reasons not given here; the board says it may reassess.
10 Oct 2025admin correction● Neutral
Corrects a typo in the same-day AC/P70 upgrade: the gas increase from 2,754 to 2,857 Bcf is 3.7%, not 37%. The oil increase (43 to 78 MMbbl, 81%) and unchanged contingent resource are as previously reported.
10 Oct 2025resource reserve update▲ GoodMajor
AC/P70 (100%) prospective resources increased: gas from 2,754 to 2,857 Bcf and oil from 43 to 78 MMbbl (best estimates, unrisked), with Hadrosaurus lifted to prospect status. Contingent resource unchanged at 276 Bcf and 34 MMbbl. Farmout process targeted to close Q4 2025.
8 Oct 2025admin correction● Neutral
Re-release of the August corporate presentation adding required disclosure of how resource estimates were prepared and aggregated. No new figures or news stated in the readable text.
26 Sept 2025annual report● Neutral
2025 annual report calls the year a move from explorer to producer, after the Alameda-2 workover and full-time production. Chairman admits progress was slower than expected. Amistad-2 is described as preparing to drill, targeting enhanced flow 200 metres up-dip of the original 1,235 bopd zone.
