MEO Australia to relaunch under new name

MEO Australia Ltd. has announced plans to relaunch the company as Melbana Energy Ltd.

The company says the name change has been selected following a comprehensive review of alternatives with relevance to its areas of operation.

The board chose Melbana, says Chief Executive Officer and Managing Director Peter Stickland, to better reflect the company’s focus on the high-potential of its Cuba Block 9 production-sharing contract and other Cuban business development activities.

The name-change is subject to shareholder approval at this year’s annual general meeting.

Melbana’s Cuban block is onshore on the island’s north coast 140 km east of Havana and on trend with the major Varadero oil field.

The company also has interests off northern Australia, including WA-488-P in the Petrel subbasin where the Beehive prospect lies immediately south of the producing Blacktip gas field.

In addition, it has interests in Vulcan subbasin permit AC/P51 where the Ramble On prospect lies near Montara and Talbot oil fields, and in the long-held proposal to build artificial islands to house methanol and LNG developments at Tassie Shoals in the Timor Sea.

In New Zealand, the company has interests in the Puka oil field and the Pukatea prospect onshore Taranaki basin.

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