Melbana Energy begins Cuban production, secures $7m funding

Melbana Energy Limited commenced full-time production from the Alameda-2 well in Cuba, marking its transition to a producer. This follows a workover in February 2025 to remediate formation damage. By June 30, 2025, the company had established a crude inventory of 22,863 barrels and anticipates its first oil export in 2025. Preparation for drilling the Amistad-2 production well is complete, with rig mobilisation underway as of September 19, 2025.

To support its operations and future development, Melbana Energy completed a placement on August 21, 2025, raising approximately AUD 7 million before costs. These proceeds will be allocated towards drilling costs for the Amistad-2 production well and general corporate purposes. The company also reported a net loss after tax of $4,151,446 for the year ended June 30, 2025.

Melbana Energy's exploration efforts continue in Australia, with a new permit (WA-552-P) awarded in the Dampier Sub-basin. Environmental approval was received to drill an exploration well in permit WA-488-P, which holds a prospective resource of 388 million barrels of oil equivalent. The company's focus remains on developing its oil and gas portfolio in Cuba and Australia.