WorldOil MEO Australia advances exploration program in Cuba MEO Australia Limited has announced it has executed a Private Placement Agreement (PPA) with London listed Leni Gas Cuba Limited to raise $1.4 million, with funds to be used to advance MEO’s exploration program on the company’s newly awarded 2,380 km2 onshore oil block, Block 9 in Cuba. MEO Australia enters Cuba with Block 9 PSC MEO Australia has executed the Cuba Block 9 Production Sharing Contract (PSC) with the national oil company Cuba Petróleo Union (CUPET) in a ceremony in Havana, Cuba. Regional Report: Latin America Responding to falling oil prices, some Latin American governments push energy investment, while others slash EandP budgets.