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Melbana Energy's Cuban Triumph: An Exploration Success in the Caribbean — ASX:MAY| ASX Mining News & Discussion
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$MAY Melbana Energy's Cuban Triumph: An Exploration Success in the Caribbean
On May 16, 2024, at the PESA Technical Lunch in Brisbane, Duncan Lockhart, Exploration Manager at Melbana Energy, presented a comprehensive overview of the company's successful exploration activities in Cuba, highlighting the remarkable progress made in Block 9. This presentation underscored Melbana's commitment to leveraging its expertise in developing one of the most promising onshore oil fields in the Caribbean.

Strategic Location and Potential

Block 9 covers 2,344 km² in northern Cuba, strategically located on trend with the Varadero field, which boasts an impressive 11 billion barrels of oil originally in place (OOIP) and has produced 200 million barrels to date. The Block 9 production sharing contract (PSC) is valid until 2040, providing a long-term framework for exploration and development.

Drilling Success

Melbana has drilled four wells in Block 9: Alameda-1 and Zapato-1 in 2022, Amistad-1 (also known as Alameda-2) in 2023, and Alameda-3, which was spud on December 15, 2023. Alameda-1 was particularly ...
Melbana Energy's Cuban Triumph: An Exploration Success in the Caribbean

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Lykeshares Official
Berkshire is hoarding so. much. cash.
Berkshire is hoarding so. much. cash.
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Lykeshares Official
Intel’s been lagging behind for years, while AMD has pulled far ahead in both consumer and professional-grade chips, it’s really not a close race anymore.

There’s this idea floating around that throwing enough cash at Intel will suddenly turn them into the next TSMC. But semiconductor manufacturing isn’t something you can ...
Intel’s been lagging behind for years, while AMD has pulled far ahead in both consumer and professional-grade chips, it’s really not a close race anymore. There’s this idea floating around that throwing enough cash at Intel will suddenly turn them into the next TSMC. But semiconductor manufacturing isn’t something you can rush, it’s a complex, slow-moving process that takes years of precision and experience. Intel could recover some ground eventually, but framing them as the savior of American chipmaking feels more like a political talking point than a practical reality.
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Lykeshares Official
Buffet indicator is showing some wild times ahead perhaps, combine that with Berkshires record high cash hoard of 30%... chart via barchart.com / Longtermtrends
Buffet indicator is showing some wild times ahead perhaps, combine that with Berkshires record high cash hoard of 30%... chart via barchart.com / Longtermtrends
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Lykeshares Official
Looks like we're going through something, but who would have thought with all these tarrifs, inflation and trade wars going on
Looks like we're going through something, but who would have thought with all these tarrifs, inflation and trade wars going on
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Lykeshares Official
Where does this end up long term with small stocks suffering white giant caps are taking all the coin?
Where does this end up long term with small stocks suffering white giant caps are taking all the coin?
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Lykeshares Official
🔺 Student Loan Delinquencies Hit Record 12.9%...
The spike in red reflects financial strain returning fast. Credit card delinquencies are rising too, hinting that lower-income consumers might be nearing a breaking point. What's going on...
🔺 Student Loan Delinquencies Hit Record 12.9%... The spike in red reflects financial strain returning fast. Credit card delinquencies are rising too, hinting that lower-income consumers might be nearing a breaking point. What's going on...
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Lykeshares Official
$ASN Is Anson Resources’ US$330M Financing Deal the Key to Unlocking Utah’s Lithium Potential?
Is Anson Resources’ US$330M Financing Deal the Key to Unlocking Utah’s Lithium Potential?