Fortbridge Media Release

Cue Energy [CUE] - Rig Contract Signed For Naga Utara -2 Well Mahakam Hilir PSC, Indonesia

Cue Energy Resources Ltd is pleased to advise that SPC Mahakam Hilir Pte Ltd, the Operator of the Mahakam Hilir PSC, has contracted a rig for the forthcoming drilling campaign on the Naga Utara gas discovery in Indonesia. Cue holds a 40% interest in the Mahakam Hilir PSC which is located onshore in the Kutei Basin, Kalimantan.

The Naga Utara -1 discovery well was drilled in 2012 to a total depth of 5,066 ft MD. During drilling operations the well intersected gas in two reservoir sands and flowed gas to surface continuously for seven days.

The rig will be mobilised from South Sumatra (Jambi) in the middle of July to the well site in Samarinda, East Kalimantan. Site preparation is currently in progress, and it is expected that the Naga Utara -2 well will spud by the end of September.

Please see the attached announcement for more details.

For further information, please contact

David A.J. Biggs
Chief Executive Officer
(03) 9670 8668

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