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Block9PSCCuba,SouthAmerica
MEOAustraliatoraiseUS$1.4million

ProjectProfile
Value:Undisclosed
Location:130kmeastofHavana,Cuba
Reserves:Unknown
Area:2,380km2
Depth:Unknown
StartupYear:
Block9coversapproximately2,380km2ofpredominantlylowlyingfarmlandonthenorthcoastofCubaapproximately130kmeastofHavana.Ithasanexistingpetroleum
explorationdatasetofmodern2Dseismicandmultiplewells.TheblockisclosetothemultibillionbarrelVaraderooilfieldandcontainstheMotembofield,thefirstmajor
Cubanoilfieldwhichwasdiscoveredin1881.TheexplorationphaseofthePSCtermissplitinto4subperiodstotallingeightandahalfyearswithwithdrawaloptionsatthe
endofeachsubperiod.Thenegotiatedworkprogramincludesacommitmenttoaninitial18monthexplorationsubperiodduringwhichexistingexplorationdataintheblock
willbeevaluatedandselectedseismicreprocessedbeforeelectingwhethertoproceedwithasubsequent24monthexplorationsubperiodwhichincludesacquisitionofnew
2Dseismic.MEOAustraliaLimitedistheoperatoroftheprojectwith100%interest.

Operators:
MEOAustraliaLimited:Operatorwith100%interest

Contractors:

Subcontractors:

ProjectInformation
Mar01,2016
MEOAustralia has executed a Private PlacementAgreement with London listed Leni Gas Cuba to raise US$1.4 million, with funds to be used to advance
MEOs exploration program on the Companys newly awarded 2,380km2 onshore oil block, Block 9 in Cuba. Under the placement agreement, MEO will issue
Leni Gas Cuba 140,716,573 shares at an issue price ofA$0.01 per share. The placement of shares to Leni Gas Cuba falls within MEOs placement capacity
and will make Leni Gas Cuba MEOs single largest shareholder with a 15.8% interest in the Company. Leni Gas Cuba is a specialist Cuban investment
company listed in London.

Feb15,2016
MEO has received historical technical data from Block 9 and has commenced a detailed assessment of the prospectivity of the block. To date MEO can
confirm that a number of wells previously drilled in Block 9 have recovered oil.Amongst these are:
Guadal1, drilled in 1970/71 (prior to the acquisition of modern seismic data), recovered more than 30 barrels of light oil (24API) on test
Marti5, drilled in 1988/89, recovered 20.5 and 24API oil and had oil shows over a 390 metre gross interval
Bolanos1 drilled in 1991 recorded a recovery of 22API oil
These historical drilling results along with the previously produced Motembo field and the extensive natural seeps and tar deposits (all within MEOs Block 9)
indicate a widespread and prolific petroleum system within MEOs Block 9. In addition, initial analysis has identified the presence of a number of prospective
structural trends on Block 9, and the potential for a significant number of additional structural leads and prospects has been identified during the preliminary
interpretation of the existing seismic data.A project to reprocess some of the existing 2D seismic data has commenced. This reprocessing will seek to
improve the data quality and thus enhance the understanding of Block 9. MEO will conclude its preliminary assessment of the prospectivity of Block 9 and
the seismic reprocessing project by mid2016.

Sep07,2015

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Projectclassification
STATUS:
UPSTREAM

CATEGORY:
APPRAISAL

EXPLORATION

ON/OFFSHORE:
DRILLING

SUBSEA

OFFSHORE

Projectoperators

MEOAustraliaLimited
Level 17
500 Collins Street
Melbourne 3000
Australia

CONTACT

Telephone:++61386256000
Fax:++61396140660
Web:http://www.meoaustralia.com.au
Email:admin@meoaustralia.com.au

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Projectmaincontractors
Nomaincontractorslisted

Projectsubcontractors
Nosubcontractorslisted

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Projectnotes

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