Melbana Energy, an Australian company with operations in Cuba and New Zealand, said it secured a $2.5 million loan to help finance its operations. The company said it secured the loan through an Asian lender with a maturity date of January 10 and an annual interest rate of 15 percent. “The loan facility will provide general working capital for the Company and was assessed to be clearly the lowest cost option currently available to Melbana to provide it with additional working capital to progress its exciting portfolio of projects,” CEO Robert Zammit said in a statement Thursday. Melbana last week completed a tender for a drilling rig that could be deployed in Cuba later this year. Bids are under review while it looks for […]