Cuba Block 9 Production Sharing Contract
The Block 9 Production Sharing Contract (“Block 9 PSC”), covers 2,380km2 onshore on the north coast of Cuba, 140 km east of Havana in a proven hydrocarbon system and along trend with the multi-billion barrel Varadero oil field.
Block 9 has multiple other producing fields within close proximity, including the Majaguillar and San Anton fields immediately adjacent to Block 9 in addition to the Motembo field, the first oil field discovered in Cuba.
Melbana Energy is prequalified as an onshore and shallow water operator in Cuba and was awarded a 100%# interest in the Block 9 PSC on 3rd September, 2015.
# Petro Australis Limited, an unlisted public company, holds a conditional 40% back-in option which expires in September 2017.