Melbana Energy Limited (ASX:MAY) Insider Michael Sandy Purchases 300,000 Shares

Melbana Energy Limited (ASX:MAY) insider Michael Sandy purchased 300,000 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The shares were acquired at an average price of A$0.51 ($0.32) per share, for a total transaction of A$153,600.00 ($95,403.73).

Melbana Energy Stock Performance

The company has a market cap of $97.74 million, a P/E ratio of 30,005.90 and a beta of 1.15.

Melbana Energy Company Profile

Melbana Energy Limited engages in the oil and gas exploration in Cuba and Australia. The company holds a 100% interest in the Tassie Shoal Methanol and LNG project located in Australia. It also holds a 100% interest in the Santa Cruz oil field located in Cuba; and WA-544-P and NT/P87 permits covering an area of approximately 4,000km2 in the Petrel sub-basin, as well as a 30% interest in Block 9 that covers an area of 2,344km2 located in Cuba.