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Melbana Regains 70% Interest in Cuba Block 9 After Partner Default
1:35pm on Friday 31st of July, 2026 AEST
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Energy
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Melbana Regains 70% Interest in Cuba Block 9 After Partner Default
1:35pm on Friday 31st of July, 2026 AEST
Key Points
Sonangol defaults on $34.8 million, 70% interest reverts to Melbana
US sanctions on CUPET halt direct operational support in Cuba
New seismic data reveals subsurface migration impacting hydrocarbon targets
Cash reserves at $0.47 million with cost reductions implemented
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