🕐10.03.15 - 02:54 Uhr

CUE ENERGY LIMITED [ASX:CUE] - CUE ACQUIRES SPC MAHAKAM HILIR PTE LTD





Fortbridge Media Release

Cue Energy Limited [ASX:CUE] - Cue Acquires SPC Mahakam Hilir Pte Ltd

Cue Energy Resources Limited is pleased to advise that it has completed the acquisition of 100 percent of SPC Mahakam Hilir Pte Ltd, which holds 60 percent of the Mahakam Hilir PSC in the prolific Kutei basin, onshore Kalimantan, Indonesia. Cue now holds a 100 percent interest in the PSC.

As part of an internal review of permit data, Cue has identified a robust drill-ready oil prospect, Naga Selatan -2 (Southern Dragon) which has encouraged Cue to move to a 100 percent interest in the permit. It is estimated that this oil prospect could contain 25 million barrels of recoverable oil and lies along trend from the large Sei Nangka and South Pelarang oil fields.

Drilling programme preparations have commenced and the well is planned for the third quarter of 2015. This acquisition complements the continuing expansion of our Indonesian acreage portfolio and marks its first entry as a drilling operator.

To view the full announcement please refer to the attachment

For further information please contact:

David Biggs
Chief Executive Officer
T: (03) 8610 4000
E:

For media and investor inquiries, please contact:

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Bill Kemmery
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