Regarding PetroAustralis ("PA"). It is a private company, so...

Regarding PetroAustralis ("PA").
It is a private company, so does not make public announcements.

PetroAustralis brought Melbana (Then MEO Australia) into Cuba, and had a 40% back-in right into their project.
PA negotiated a withdrawal from this project in late 2017 to focus on the producing oil project in Cuba mentioned above.
The company no longer has any interest in Melbana's block in Cuba, but we wish them luck.
To participate in oil and gas projects in Cuba, companies must go through a Qualification process. A minimum criteria is that the company MUST show that it has minimum of US$20M.

PA has gone through the qualification process and has been issued a Certificate of Qualification. The company and its partners are now negotiating the PSA.

I plan to step back from the PA board to focus on MEC. If any investors (Sophisticated Investors as defined by ASIC only) are interested, please contact me.

I note also, that I sent this Cuba opportunity to the MEC board in November 2017 as a potential opportunity for them to consider. I did not receive any reply.

Regards
Tom