• Melbana Energy operator of Block 9 PSC in Cuba with 30% interest
• Mobilization of rig completed, but drilling deferred due to non-payment by partner Sonangol
• Melbana has issued Notice of Default to Sonangol for non-payment of cash calls

Melbana Energy Limited, the operator of the Block 9 Production Sharing Contract (PSC) in Cuba, has provided an operational update regarding the deferral of the Amistad-11 well drilling. The company holds a 30% interest in the PSC, with the remaining 70% held by the National Oil Company of Angola, Sonangol Pesquisa e Produção SA (Sonangol). The mobilization of the rig to Pad 1 in preparation for the drilling of Amistad-11 was completed on 22 November 2025, and the final permits to drill were received on 24 November 2025. However, since then, the company has been waiting to receive payment of outstanding amounts due from Sonangol for agreed activities already conducted in 2025 prior to commencing drilling. Earlier this week, Sonangol advised that it did not believe it would be able to remit any more monies in this (calendar) budget year, despite only recently having approved the revised budget to drill Amistad-11 this year and confirming payment of the outstanding cash calls. As a result, Sonangol has requested that the drilling of Amistad-11 be deferred to next year so that it may be funded in the 2026 budget year. Consequently, Melbana has given instructions for the demobilization of contractor personnel and equipment, as this is deemed more economic than keeping the rig on site on standby until the revised spud date, which has yet to be agreed. Melbana has this week issued a Notice of Default to Sonangol, pursuant to the Joint Operating Agreement that governs the parties' relationship in Block 9, for non-payment of cash calls. Failure to cure the default in the sixty days provided may result in the defaulting party being required to assign its interest in Block 9 to the non-defaulting party.