Melbana has signed an LoI with Chinaâs Â Anhui Guangda Mining Investment Co for block 9 in N. Cuba. Melbana will be fully carried for all activity and costs for remainder of block 9 term (20+ years), and while AGMI remains a partner. Melbanaâs back-costs will also be recouped in event of devt, and it will retain 12.5% of profit oil under the PSC terms. Regulatory approval has been obtained to execute the LoI, execution of binding agreement hoped before end 2018.   Drilling should start next spring, the Alameda, Zapato + Piedra prospects slated for drilling by 2020. Relevant map + release from Melbana.
Melbana has signed an LoI with Chinaâs  Anhui Guangda Mining Investment Co for block 9 in N. Cuba. Melbana will be fully carried for all activity and costs for remainder of block 9 term (20+ years), and while AGMI remains a partner. 