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Melbana Energy to boost cash for multi-billion barrel oil hunt in Cuba

The halt will remain in place until Tuesday 15th August 2017.

Melbana Energy to boost cash for multi-billion barrel oil hunt in Cuba
Cuba is an oil rich region

Melbana Energy Ltd (ASX:MAY) has a portfolio of assets which include interests in Cuba, where it is targeting multi-billion barrel oil potential.

Melbana has a 100% interest in Block 9 PSC located onshore, with the company targeting drilling up to two wells commencing mid-2018.

The company also has interests in New Zealand and Australia.

Melbana is now heading to market with a capital raising, and the ASX has granted the company a trading halt to prepare.

The halt will remain in place until the opening of trade on Tuesday 15th August 2017, or earlier if an announcement is made to the market.

Quick facts: Melbana Energy Ltd

Price: 0.009 AUD

ASX:MAY
Market: ASX
Market Cap: $20.85 m
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