After a series of attempts with other parties, Melbana has finally reached an agreement to farmout a 70% stake + later operatorship in block 9 to Sonangol. A binding HoA was signed for the Angolans to fund 85% of costs associated the planned Alameda + Zapato wells, Alameda to spud 3Q '20, PTD 4,000m. Melbana will hold 30% + operatorship, Sonangol having the option to operate upon completion of the 2-well campaign. Block 9 covers 2,330 sq km in N. Cuba.
Melbana has finally reached an agreement to farmout a 70% stake + later operatorship in block 9 to Sonangol.