May 27 (Reuters) - Melbana Energy Ltd MAY.AX :
* MELBANA ENERGY LTD ANNOUNCES FARM-IN AGREEMENT FOR BLOCK 9 PSC IN CUBA EXECUTED WITH SONANGOL
* SONANGOL TO FUND 85% OF ALL COSTS ASSOCIATED WITH COMPLETION OF THESE TWO WELLS & EARN 70% PARTICIPATING INTEREST IN BLOCK 9
* SONANGOL TO PAY CO'S PAST COSTS OF ABOUT $5 MILLION
* ANTICIPATE COMMENCING FIRST WELL IN Q4 2020
* CO TO REMAIN OPERATOR & FUND 15% OF THE 2 WELLS, TO RETAIN 30% PARTICIPATING INTEREST