Melbana Energy advances Cuban drilling, boosts cash reserves to $13.4m

Melbana Energy Limited announced continuous oil production from Alameda-2 in Cuba's Block 9 PSC, resulting in a crude inventory of over 33,000 barrels at quarter-end, with 10,723 barrels produced and delivered to storage during the period. The Amistad-2 well was spud on September 18, 2025, targeting the shallow Unit 1B, with surface casing set at 327 meters measured depth and early signs of oil noted. Preparations for Amistad-3 are also advancing, with civil construction completed.

In Australia, a variation to minimum work requirements for permits WA-544-P and NT/P87 was approved, shifting the focus from 3D seismic acquisition to geological and geophysical studies and well planning until May 2027. The company ended the quarter with $13.4 million cash available.

The Cuba Energy Summit in Spain, scheduled for October 2025, was cancelled. Payments to related parties totaled $182,000 for directors' fees.