CUE 0.00% 15.5¢ cue energy resources limited

CUE-Friday Anno & interpretation

  1. 195 Posts.
    Cue reached TD and intersected reservoir 10m high to prognosis with good oil indications. This is a very positive news indeed. After logs are run we will know what oil saturations and length of the oil column should be.
    Anxious

    Cue is pleased to announce that at 5am on 31 May 2002 the Southeast
    Gobe 1 sidetrack well in Papua New Guinea was at a measured total
    depth of 3240m and was preparing to make a wiper trip prior to
    attempting to again run logs. The initial logging run encountered
    tight hole conditions in a portion of the hole. The objective Iagifu
    sandstone was encountered approximately 10 metres high to prediction
    with indications of oil which will be evaluated using log
    information.

    SEG-1 ST-1 is being drilled as a deviated oil well to penetrate the
    Iagifu reservoir approximately 300 metres to the northeast and
    approximately 50 metres downdip of the current SEG-1 intersection.

    A side track of the SEG-10 well will follow completion of SEG-1 STI.

    Cue has a 3,285651% interest in the SE Gobe field unit, with a
    Current overlift interest of 3.8565% to compensate for past under
    lifting.

    Participants in the SE Gobe Unit are as follows:

    Cue PNG 3.3%
    Chevron Niugini 7.9%
    Exxon Mobil 5.9%
    Merlin Petroleum 2.8%
    Oil Search Limited 44.9%
    Petroleum Resources Gobe 2.0%
    Southern Highlands Petroleum 23.7%
    Santos 9.4%
    Total 100.0%

    A location map is attached.

    Any queries regarding this announcement should be directed to the
    Company on 03 9629 7577.


    R J Coppin
    CHIEF EXECUTIVE OFFICER

    A copy of the Depth Structure Map is available in PDF format on
    www.asx.com.au. Alternatively it is available for purchase from ASX
    Customer Service on 1 300 300 279.


 
watchlist Created with Sketch. Add CUE (ASX) to my watchlist
(20min delay)
Last
15.5¢
Change
0.000(0.00%)
Mkt cap ! $108.2M
Open High Low Value Volume
15.5¢ 15.5¢ 15.0¢ $34.26K 227.5K

Buyers (Bids)

No. Vol. Price($)
2 144000 14.5¢
 

Sellers (Offers)

Price($) Vol. No.
15.5¢ 379613 4
View Market Depth
Last trade - 15.20pm 28/01/2020 (20 minute delay) ?
CUE (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.