Insider Buying: Melbana Energy Limited (ASX:MAY) Insider Acquires 300,000 Shares of Stock

Melbana Energy Limited (ASX:MAY) insider Michael Sandy bought 300,000 shares of the stock in a transaction dated Monday, February 24th. The shares were purchased at an average cost of A$0.51 ($0.33) per share, for a total transaction of A$153,600.00 ($97,834.39).

Melbana Energy Price Performance

The company has a market cap of $97.74 million, a price-to-earnings 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.