Profit of $3.9m. or 1.1 cents per share.Shares still at 5.2 cents.
What's going on here?
A small profitable oil producer with excellent exploration acreage. Even on a PE basis it should be trading at 10 cents.
What does it take to get market recognition
Regards M.
CUE ENERGY RESOURCES LIMITED 2002-09-11 ASX-SIGNAL-G
HOMEX - Melbourne
+++++++++++++++++++++++++
Cue Energy Resources Ltd (ASX : CUE, NZSE : CUE) announced a 100%
increase in net profit of NZ$3,905,000 after writing off exploration
expenditure and amortisation of NZ$4,080,454.
The profit compares with Cue's previous profit of NZ$1,931,000 in the
2001 year.
Cue received most of its revenue from its interest in the unitised
SE Gobe Oilfield in Papua New Guinea. This contributed NZ$8,252,459
in oil production revenue.
In announcing the result, Cue's Chairman, Mr Richard Tweedie, said
that "the profit was a pleasing result and establishes a trend of
rising profitability, which Cue will strive to repeat in the current
year."
Mr Tweedie went on to say that "the continuing strength of the oil
price bodes well for profitability." "The strength of the oil market
couldn't have come at a better time for Cue, given that we have an
11% participation in the drilling next month of the exciting new
well, Bilip, along trend from the producing SE Gobe oil field and
Saunders oil discovery", Mr Tweedie said.
"We are also shooting a 2D seismic survey over selected prospects and
leads in the vicinity of our Oyong discovery in the Madura Strait of
Indonesia with a wildcat well anticipated before year end.
Development planning for Oyong is progressing satisfactorily." Mr
Tweedie said. Mr Tweedie also said "that Cue's participation in both
PNG and Indonesia has potential for considerable future value
creation for shareholders."
Any queries regarding this announcement should be directed to the
Company on (03) 9629 7577
R G Tweedie
CHAIRMAN
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Last
8.4¢ |
Change
-0.007(7.69%) |
Mkt cap ! $58.66M |
Open | High | Low | Value | Volume |
9.1¢ | 9.1¢ | 8.3¢ | $55.62K | 656.2K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 23808 | 8.4¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
9.0¢ | 23400 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 23808 | 0.084 |
3 | 188733 | 0.083 |
2 | 186585 | 0.082 |
1 | 6500 | 0.081 |
1 | 18000 | 0.080 |
Price($) | Vol. | No. |
---|---|---|
0.090 | 23400 | 1 |
0.091 | 33326 | 1 |
0.096 | 200000 | 1 |
0.097 | 101020 | 1 |
0.099 | 120000 | 2 |
Last trade - 16.10pm 29/03/2024 (20 minute delay) ? |
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Last
8.4¢ |
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Change
-0.007 ( 6.67 %) |
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Open | High | Low | Volume | ||
9.0¢ | 9.0¢ | 8.3¢ | 153943 | ||
Last updated 15.56pm 29/03/2024 ? |
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