Dec 23 (Reuters) - Melbana Energy Ltd MAY.AX :
* SIGNED BINDING HEADS OF AGREEMENT WITH SONANGOL E.P. FOR ACQUISITION OF 70% STAKE IN ONSHORE CUBA BLOCK 9 PRODUCTION SHARING CONTRACT
* SONANGOL TO FUND 85% OF COSTS OF DRILLING OF MELBANA'S TWO HIGH IMPACT TARGETS TO EARN 70% PARTICIPATING INTEREST IN BLOCK 9 PSC