Published On: Wed, Aug 17th, 2016

Australian company accelerates drilling plans for onshore oil in Cuba

Havana CubaMELBOURNE - Australian publicly listed company, MEO Australia Limited, has provided an operational update and near term drilling plans and further resource update plans for its Cuban Block 9 onshore oil acreage.

MEO has commenced the work required to accelerate the potential for early drilling in Block 9 based on the significant resource potential already identified. MEO has identified oil recovery targets that could potentially be drilled on existing data. MEO is aiming to finalise a drilling plan by the first quarter of 2017 for up to two wells in Block 9.

Sherritt International Corporation plans this year to drill a high impact well on neighbouring Block 10 PSC which, if successful, will provide further validation of the significant prospectivity of MEO's Block 9 PSC in Cuba.

To support these activities, MEO has opened a representative office in Havana and appointed former Cupet exploration director Dr Rafael Tenreyro as its representative in Cuba.

MEO managing director and CEO Peter Stickland commented: "While MEO has a number of exciting opportunities in its portfolio, Cuba Block 9 is particularly significant for the company and we are busy working on a number of fronts to accelerate the potential for drilling on Block 9."

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