Donlt forget before Songal the Chinese were partners until April 2019 announcement:
Melbana Energy Limited (ASX: MAY) (“Melbana”) advises that the Cuba Block 9 Production Sharing Contract (“Block 9 PSC”) farminee Anhui Modestinner Energy Co., Ltd. (“AMEC”), a wholly owned and guaranteed subsidiary of Anhui Guangda Mining Investment Co. Ltd. (“AGMI”), has not satisfied the Conditions Precedent in the Farmout Agreement (see ASX Release 2 January 2019) within the time allowed. The Conditions Precedent included Cuban and Chinese regulatory approvals and a milestone related term with respect to any required guarantees.
MAY Price at posting:
6.2¢ Sentiment: Buy Disclosure: Held
