Insider Buying: Melbana Energy Limited (ASX:MAY) Insider Buys A$24,000.00 in Stock

Melbana Energy Limited (ASX:MAY) insider Michael Sandy bought 1,000,000 shares of the firm’s stock in a transaction that occurred on Friday, July 12th. The shares were purchased at an average cost of A$0.02 ($0.02) per share, with a total value of A$24,000.00 ($16,216.22).

Melbana Energy Stock Performance

The company has a debt-to-equity ratio of 0.09, a current ratio of 2.81 and a quick ratio of 3.02.

About Melbana Energy

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.