Cuba Block 9 Recoverable Prospective Resource Assessment: 718 MMboe.

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Drilling Activity Summary


An independent resource assessment by McDaniel & Associates for Melbana Energy Ltd. indicates that Cuba’s onshore Block 9 contains a recoverable prospective resource of 718 MMboe. According to the report, the best estimate of oil-in-place increased by 24% to more than 15.7 Bbbl, and an increase of recoverable prospective resources of 13% to 718 MMboe from three prospects and 16 leads. The assessment includes a 17% increase in the aggregate of best estimate prospective resources to 236 MMbbl of oil from the four targeted objectives contained within Melbana’s initial two-well program of Alameda and Zapato. Melbourne, Australia-based Melbana is the operator of Block 9 with 100% interest.