Fortbridge Media Release

Cue Energy [CUE] - Farm Out of PEP 51313 � New Zealand

Cue Energy Resources Limited (CUE) has announced that together with its joint venture partners it has farmed out a 30% interest in the PEP 51313 Licence to OMV New Zealand Limited.

Prior to the farm-out PEP 51313 Joint Venture (JV) interests are:

* Todd Exploration Ltd (50%)
* Horizon Oil (New Zealand) Ltd (30%)
* Cue Taranaki Pty Ltd (20%)

Following the farm-out the new PEP 51313 Joint Venture (JV) interests will be:

* OMV New Zealand Limited (30%)
* Todd Exploration Ltd (35%)
* Horizon Oil (New Zealand) Ltd (21%)
* Cue Taranaki Pty Ltd (14%)

All these parties are all also partners in PMP 38160, the Maari Production JV. The farm-in agreement is subject to regulatory approval. OMV will assume operatorship post completion of a seismic acquisition programme planned for first quarter 2013.

As part of the farm-out agreement, OMV will fund 100% of an initial single exploration well in the licence targeting the Whio prospect near the border between the PEP 51313 licence and PMP
38160, the Maari production permit.

For further information, please contact:

Cue Energy Resources Ltd
Phone: +61 3 9670 8668
Email:

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