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Melbana retains Cuba upside despite a year of sanctions and partner failure
10:57am on Tuesday 29th of September, 2026 AEST
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Oil and Gas
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Melbana retains Cuba upside despite a year of sanctions and partner failure
10:57am on Tuesday 29th of September, 2026 AEST
Key Points
$50.2 million net loss after a $35.7 million Block 9 impairment
Amistad-2 intersected 169 metres of porous reservoir but recovered no oil
Sonangol’s 70% interest is subject to assignment, pending Cuban approval
$14.5 million partial repayment received after year-end
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