CUE-> Pantheon of small oil stocks

[STRAT]

Ouch. CUE getting a real slapping over for this. MEO. well that ones been here before I suppose.

[Crypto Crude]

Well boys and girls,

ASSET Kick is in as CUE pulls back strong after heavy dumping on open today.. CUE miraculously pulled back 5 cents off its early tumble to 27.5 cents... The ending of Artemis wraps up and completed a killer few months for us, and a chance to say...

Thank you very much CUE, and to all its holders...
We are only at September levels ...
...

Eah,
the shareprice fell near expectations on that outcome...
but,
I didnt anticipate such a retrace of near 20% late in the day, to finish off only 14.5% down for the day... CUE has provided us with a very special vehicle... and some 1 TCF appraisal next year... development and building cashflow...
and leading into 2 firm, with maybe 3 offshore giants protected from what we have seen today...... MEO and MOG have been crippled...


Thats a big shove from those who said CUEs big run from 20-40c was all from Artemis...
:cool:
.^sc

[upside_umop]

CUE's rise from mid 20's was mostly Artemis/Catarina associated. CUE still have Catarina, MEO don't.
Since then there has been a few minor developments for, selling minor assets and the like. Oil prices have risen too.

See the chart below on how they moved tip for toe at each step in the last 6 months.

http://www.google.com/finance?chdnp=1&chdd=1&chds=1&chdv=1&chvs=maximized&chdeh=0&chfdeh=0&chdet=1292389200000&chddm=46569&chls=IntervalBasedLine&cmpto=ASX:MEO&cmptdms=0&q=ASX:CUE&ntsp=0

Maybe Cue has further to fall? Down 33% so far from its peak of 45 cents. I wouldn't say that is a great result...but it was to be expected.

It was always the case the MEO was going to fall further than CUE as it was a lot more leveraged to this well.
-Had cash incentives relying a successful well (CUE didn't)
-Had higher equity stake (25% MEO vs 15% CUE)
-Had free carried wells after a successful strike (CUE didn't)

I'd be looking to pick some up mid 20's but we may not get there. WIll just have to wait and see.

[Crypto Crude]

whatever Upside,
CUES 15% fall on the day, compared to MEOs, MOGs fall of 50% plus is a testament to our portfolio...
Caterina is still too far away to have that much weighting...

You just like a few are tryna stab...
good luck to yah...

:cool:
.^sc

[upside_umop]

Look at the chart for 6 months from when it was 25 cents - no stabbing here.

You even agreed with me on an earlier post...but then try to dig it with your quote:


Thats a big shove from those who said CUEs big run from 20-40c was all from Artemis

I've already explained the reasons why MEO fell more than CUE...it was expected. Just like MEO would have risen more than CUE had gas been struck. Plus, the run was from 25 cents to 45 cents.

We'll just wait and see where it settles...25 cents is my bet. Well, that's what I'd look at buying in at....

[Oiler]

Look at the chart for 6 months from when it was 25 cents - no stabbing here.

You even agreed with me on an earlier post...but then try to dig it with your quote:



I've already explained the reasons why MEO fell more than CUE...it was expected. Just like MEO would have risen more than CUE had gas been struck. Plus, the run was from 25 cents to 45 cents.

We'll just wait and see where it settles...25 cents is my bet. Well, that's what I'd look at buying in at....

If CUE goes to 25 cents then I am in. Doubt it will but hoping ;)

[blockhead]

Might have to look to CUE to recoup my generous losses suffered at the hands of Mr Nog, 25c and my finger would be on the trigger I reckon

[geezy]

same here, thinkin of cutting my losses at NZO moving it all into CUE , :( :( :( :( NZO my second largest holding .

[seaosh]

Any thoughts on the new CEO?

We were a rudderless ship there for a few hours. I was almost wondering if it was time to prepare the lifeboats.

New guy sounds good. Experienced etc. But if anyone has more idea about his background and connections it would be great to hear.

[STRAT]

Any thoughts on the new CEO?

We were a rudderless ship there for a few hours. I was almost wondering if it was time to prepare the lifeboats.

New guy sounds good. Experienced etc. But if anyone has more idea about his background and connections it would be great to hear.Shrewdy and Macduffy would be the guys to ask I reckon

[macduffy]

You pay me an undeserved compliment, STRAT.

I know nothing more about the new CEO than what has been included in the appointment notice. But Todds are making the important moves here and I'm confident in their judgement to pick the right person.

[macduffy]

Wortel gas field development approved.

http://asx.com.au/asxpdf/20101220/pdf/31vqq3qc163hzb.pdf

[Corporate]

Wortel gas field development approved.

http://asx.com.au/asxpdf/20101220/pdf/31vqq3qc163hzb.pdf

Yeah CUE's been asleep. This was announced by STO's a while ago

[macduffy]

Well, not quite!

STO announced a while ago that a contract for the sale of all Wortel gas had been concluded and that approval from the "Sampang " partners for the development was expected shortly.

STO and CUE have both made the same announcement today re development of the field.

[Corporate]

Well, not quite!

STO announced a while ago that a contract for the sale of all Wortel gas had been concluded and that approval from the "Sampang " partners for the development was expected shortly.

STO and CUE have both made the same announcement today re development of the field.


What about this..http://www.asx.com.au/asxpdf/20101126/pdf/31v5yfx5jv6j6p.pdf

[macduffy]

Quite right, Corporate.

STO's announcement today is in fact merely CUE's belated announcement.

A mistaka I maka!

[Corporate]

Quite right, Corporate.

STO's announcement today is in fact merely CUE's belated announcement.

A mistaka I maka!

Haha no worries - I had to go back and check. Thought I was going crazy.

[macduffy]

Article from this morning's DomPost about Richard Tweedie's retirement from Todd Energy.

CUE gets a mention.

http://www.stuff.co.nz/business/4498657/Richard-Tweedie-Walking-far-from-the-energy-crowd

[blockhead]

Whats with todays ann re dodgy trading ?

http://www.asx.com.au/asxpdf/20101230/pdf/41vyt0494ndkf5.pdf

[STRAT]

Whats with todays ann re dodgy trading ?

http://www.asx.com.au/asxpdf/20101230/pdf/41vyt0494ndkf5.pdfHi Blockhead. I think you will find everyone has to publish one of these now.

[macduffy]

Hi Blockhead. I think you will find everyone has to publish one of these now.

Yes, the deadline for ASX-traded companies is 31 December.

[blockhead]

Ah ha, sort of like the school master telling you the rules before school breakup then ?

I just grabbed 50,000 of them to try and negate the NZO/PRC losses, heres to 2011 then !!

[troyvdh]

...Blocky I did the same ..picked up another 30000....if Mr Tweedie is going to give CUE his undivided attention then thats good enough for me...had to sell some NOGs for that ...mixed feelings there....the other issue that does concern me is that CUE is a red hot favourite on everyones picks (less so on the oZ page..which is a bit puzzling)....my other 100000 CUE are on the OZ bourse....as are the ones I just got....guess Im hoping for a NZ$ drop.....cheers

[macduffy]

the other issue that does concern me is that CUE is a red hot favourite on everyones picks (less so on the oZ page..which is a bit puzzling)....

I would think the reason is that there is a lot more choice on the ASX.

Our NZ stocks don't offer a lot of potential excitement - and very few oilies and miners.

[troyvdh]

Excuse my ignorance....does the fact that CUE has been traded in frequent low volume trades indicate anything ?.....not being a trader....cheers....

[STRAT]

Excuse my ignorance....does the fact that CUE has been traded in frequent low volume trades indicate anything ?.....not being a trader....cheers....Hi Troy.
Its probably a Bot.
A computer program calls the shots.
Scarey eh?

[p2r]

$ 8 million for cash Maple about 1c per share ... doesn't seem to have ignited the share. But 6 mths out from the big action.

[ELYOB]

The next Q Report will give us a good view on cue . This oiler is one to watch more closely ..... many oilers will get a hiding very soon in the market, but CUE has it all to come out the other side looking good .

[STRAT]

The next Q Report will give us a good view on cue . This oiler is one to watch more closely ..... many oilers will get a hiding very soon in the market, but CUE has it all to come out the other side looking good .
Hi Elyob.
The last time I caught up with Shrewdy face to face I said CUE was solid like money in the bank.;)

Sure is. Similar returns too :crying:

Like watchin grass growing and paint drying and all that.:eek2:

[STRAT]

zzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz

[Jay]

Couldn't agree more

I know, I will sell mine, that should put a rocket under the SP!

[p2r]

New presentation out today. Plenty of exploration and production to fund it.

[Crypto Crude]

further notes on Matariki...

going on from what I have previously described that oil has migrated southward along the tasman ridge....... As this oil pathed south through maui it filled our Maari to spill point... well, not spill point no more.. hehe...

This spill point is a very good signal because over flow of Maari continued trending south...South towards Matariki...

"flowed further south on the fairway along the ridge until it reached the shallower (1000 metre-deep) Matariki"-quote Todds...

on paper, and seismic analysis Matariki is a Maari look alike...


The reservoirs are expected to be similar to those at Maari, namely the Miocene Moki Formation and the overlying oil bearing M2A sandstone...


The important question is, does our Matariki prospect have a sufficient oil trap?
well, I just dont really know...

The answer to this question lies somewhere in the Manganui Claystones- top seal above the double stacked Moki sands of the Matariki prospect...
This is an important area amongst others for further research because top seals prevent vertical migration of hydrocarbons out of traps...
...

In this rather secretive industry, where information can be hard to find, sometimes impossible, where everythings down played... where upgraded reserves usually dont surprise.. all this means something when theres a real buzz about Matariki... the fact that the Todds have made reference to oil migration (oil charge from East Maui sub basin) passing by Matariki...that the Geological Society of NZ highly rate Matariki...that I showed the same hazy gas on Matariki seismics to Maari seismics... that we knew Manaia was underfilled because it was west of migration path, and that updip sweet spot would flow... That we now understand why north Tasman-1 was dry because once again, it was off this important fairway...(note Matariki is bang spank ontop of this fairway as is Maari)... tasman-1 on this fairway another well also failed, (and this to is the big Matariki risk) fault leakage.....

Matariki is the gate to open up our other leads and theres a pretty good shot we are going to pull off double the size of Maari at 4 times the stake.....
The drilling of Matariki is still a year off...
appraisal well feel about it...
im not going anywhere...
top 5 E&P ASX here we come...
with WA and everything else to fall back on...
lets roll out more big target drilling...
this is the gambling part of our business... but its stacked in our favour... and this 35cent stock proves it...
one buck, you watch me...

OXX got a tasty permit in the mix too...

:cool:
.^sc

[Corporate]

Last page of the quarterly...very interesting. CUE made an offer to purchases WPL's share of the Laminaria Corallina producing fields!

[Waiuta]

Richaed Tweedie topping up by 77697

[KentBrockman]

Richaed Tweedie topping up by 77697

Yeah, but if you read the announcement a bit more carefully you'll notice that not he paid for it, but you did (if you are a holder).

[Crypto Crude]

CUE now have a cash and asset backing of 26cents...
With big time offshore drilling next year, and production growth....
theres lots of upside and not much downside...
a portfolio of free opportunities ready to materialise...
PNG
:cool:
.^sc

[p2r]

http://www.businessworld-australia.com.au/australian-business-profiles-and-featured-articles-bwa-magazine/australian-oil-gas-energy/cue-energy/ some info on the new CEO. He reckons he knows how to produce while cue has been an exploration co. earning 30million$ this year. should worth 5 times as much in 5 years all going to plan...

[Waiuta]

Mark Paton seems to have the experience to drive this forward. Let's hope the SP gets a bit of genuine traction but not enough to be a victim of maths!

[Crypto Crude]

I just got back from Vegas and I see nothing has changed...
I had the meanest trip...
I tripled up on day 1 in the world series event 51, and then went out...
didnt really do anything wrong... lots of donkeys to snack on...

I came in 7th in a side tornament out of 292 people where I got an unfortunate beat for 40% of chips in play, but I took a nice cash...
Im Gona do it all over again next year and plan to go for a few months... met some of the nicest yanks... we's be joking and we laughing alot...
good to come home with cash, but less than what I went with...

GO CUE NGE...
Ise be waiting...
:cool:
.^sc

[Corporate]

SC, great to hear you enjoyed your trip.

On CUE, you say nothings changed...I believe the fundamentals have improved :-)

[Crypto Crude]

corporate...
The fundamentals have always been exceptional...
but its ok...Im just gona wait on Matariki and Caterina

Im not sure about this new venture in Indonesia...
we be drilling from the 3rd quarter for the next year...
somethings got to go right this drilling season...

:cool:
.^sc

[p2r]

1/4ly posted. Oyong oil continues to stay strong about 50% of an underperforming Manaia but the oil is still there just delayed when it's coming up. Entering some development& exploration so will cost some of the cash and cash flow but they seem to be investing to a plan so should be good for the future.

[troyvdh]

...in addition...the volume wanting to buy has in recent times been considerably larger than those who wish to sell...

...hold 130000

....cheers

[Waiuta]

Tweedie buying another 92086 @27

[macduffy]

Tweedie buying another 92086 @27

In terms of the "Directors' Share Savings Plan".

Sounds like a part of his director's remuneration. The question is - Is he obliged to take it this way or is it a choice on his part?

[Crypto Crude]

wow...I just saw the carnage....
during the week I made the unthinkable,
I had to sell my CUE shares to buy a franchise with my partner...

I'm getting into sales and needed the money...

giving up poker full time..
and going to try some network marketing...

Im desperate to get back in CUE
still holding NGE...
:cool:
.^sc

[Corporate]

wow...I just saw the carnage....
during the week I made the unthinkable,
I had to sell my CUE shares to buy a franchise with my partner...

I'm getting into sales and needed the money...

giving up poker full time..
and going to try some network marketing...

Im desperate to get back in CUE
still holding NGE...
:cool:
.^sc

NO sc you didn't sell you beloved CUE! Not after holding this long...

Good luck with the new venture.

[percy]

wow...I just saw the carnage....
during the week I made the unthinkable,
I had to sell my CUE shares to buy a franchise with my partner...

I'm getting into sales and needed the money...

giving up poker full time..
and going to try some network marketing...

Im desperate to get back in CUE
still holding NGE...
:cool:
.^sc

All the very best with the new venture.

[troyvdh]

...yep...I can appreciate the past few sentiments....re giving up full time poker careere must have been hard...and quite frankly...I am sick and tired at being hosted by those folk who have made a absolute fortune in network marketing....it has made me trully envious...indeed i have meet numerous folk whom have enriched their lives with unimagainable wealth and prosperity that it quite sickens me...envious ...you have no idea....and whats more the amount of time/energy/own money that they invested is by far dispprotionate relative to the amount of ...misery they suffer when all is lost.
re ...your postings on CUE they have been appreciated....but for the fact that Todd et al remain investors is good enough for me.

cheers in your future fortunes

[h2so4]

wow...I just saw the carnage....
during the week I made the unthinkable,
I had to sell my CUE shares to buy a franchise with my partner...

I'm getting into sales and needed the money...

giving up poker full time..
and going to try some network marketing...

Im desperate to get back in CUE
still holding NGE...
:cool:
.^sc

Been desperate for a while and took a small parcel in late trading today.
Sad to hear you are no longer on board.:(

Be cool anyway:cool:

[Crypto Crude]

thank you everybody...
It was not easy selling after a few years but I feel I have a better opportunity with my CUE dollars in the short term...
I will be back in in a few months...

I wont be missing out on Matariki
:cool:
.^sc

[drillfix]

Hi Shrewdy and welcome back.

Not the best environment to return as you can see, however one that will eventually provide plenty of opportunity for many I am sure.

[soulman]

wow...I just saw the carnage....
during the week I made the unthinkable,
I had to sell my CUE shares to buy a franchise with my partner...

I'm getting into sales and needed the money...

giving up poker full time..
and going to try some network marketing...

Im desperate to get back in CUE
still holding NGE...
:cool:
.^sc

Hi SC, how was the WSOP in Vegas? I regards poker as stale after 4 years part time. Just no limit hold em for me. Might have to get back into it given the sharemarket demise. Great thing about poker is of course the tax break on winnings.

Great exit on CUE.

[Crypto Crude]

Hey soulman,
Vegas was wonderful... too hot for me though...was looking forward to meeting oiler, but the unexpected happened --->:cool:...
I didnt consume much alcohol, I was always thirsty for waters... the people treated me like a superstar... I was a funny bunny... wombats...

The poker went ok... I was running pretty good but busted a few big stacks... I was carrying abit of anxiety and was shaking at the tables abit... by the end I was more confident...
I got 7th in a ceasers event out of 280 people...
I was huge stack with small stacks everywhere, It was unfortunate to lose on the last card to the biggest stack who won the event...
I came home with abit of coin, but was down on what I went with...

The poker World has changed with the DOA actions, and now im not able to get ahead with it...
I enjoyed it all while it lasted, but its come to an end...

My first goal is this new venture... my second goal is to get back into CUE... my third goal is to go back to vegas next year...

CUE is still the best leveraged/hedged ((((((bar market risk))))))) oiler ive seen...
enough assets in production/development and appraisal to offset drilling failures...

In the last few years we have have seen countless asx oilers fail to deliver exploration success...
Its been a huge set back for these small conventional oilers...

the trick is to get out before the drilling outcome has been announced...
I knew all this, so what did I do...
I held onto CUE, and NGE and gambled on these uncertain outcomes... at a chance to boom...

Next year CUE will be drilling Matariki,
and I will gamble with this...
If there was one well not to sell on, this would be it...
Even Caterina is a trade...

the hunt for the next big find is on...
CUE have been positioned for some time to move into the next tier as small oil turning big...
It wont happen over night, but it will happen...

The last few years on the market have been boring (for me)... so many tasty things happening, but not the confidence of the mass to move asset pricing to fair levels/ to the next level...
I will never give up on the sharemarket... I just have to take a step back to move a bigger one forward...

such a bummer... I came up from nothing to 40k on this as a kid...
and now I am not a kid, and I dont have that 40k.....
I'm gona make the money and come in on a new level...

Im coming to Auckland in the last weekend of November...

Thank you to everybody for sharing their stories and knowledge of the sharemarket... for without it, I would not have been able to do the things I wanted to... I wouldnt be the person I am today...
I surely didnt have to sit in on all those boring lectures... hehe...

take care everybody...
See you soon...


:cool:
.^sc

[Corporate]

The CUE preliminary report is good reading, especially note 4. I never realised how profitable indonesia is for CUE. Higher gross profit than NZ (Maari) and a fantastic return on assets.

[Corporate]

saw this on HC.. Shrewdy, not good for matariki

Euroz Sept 2011 report for HZN states

""Our nominal exploration value has been reduced to $50m (vs $80m previously) as we understand that interpretation of the 3D seismic has downgraded the Matariki prospect, which, as a consequence, may now not be drilled.""

http://www.horizonoil.com.au/investor-centre/documents/Euroz_RQ_Sep2011.pdf

[Crypto Crude]

Wow Corporate,
that info you found is a huge setback for these leveraged stakes...
and leverage is what I want... even though CUE (amongst many great asx oilers are offensively cheap)... I see no rush for myself to re-enter... there are lots of tasty oilers... im buying one next week...

I can't believe it... , im not sure what new info Euroz are privy to...
seismics previously quote 'very similar to Maari-2'... ?????... I even showed it... aswell as all the gos I found...
Previously interpreted 50% chance of success plus... so was always a flip, just a damn good one in my view...
damn...

:cool:
.^sc

[troyvdh]

Dear Shrewd...I really really appreciate your postings..and should what you say eventuate i will send you some of the finest things in life (which may include wine)....perhaps a dozen of the finest....no question....

but.....is this all real...I am a nurse on $30 an hour......

[Crypto Crude]

troy,
what you mean "is this all real"?
next Saturday we are having a chch get together... come out and we can have a beer...
:cool:
.^sc

[Crypto Crude]

I have taken this post off another thread more appropriate for here...


troyvdh

Giday....I mean no offence to anyone...and I really really rate and appreciate SC input ...re CUE ...I have 130k ......but I understand that he went to Vegas.....then sold CUE ...to fund some direct marketing thingy.... so what can we take from this...Im not sure...are his postings meant for sharetrader...or more one of someone who has aspirations known only to himself....if so I wish him the very best...

no offence intended....to any party.....

what would be appreciated if SC could devulge his "skin in the game".....i.e dosh


Troy,
Im happy to share my story... but I don't feel that I should have to tell you my wealth....over the years you would have a fair idea that im not rich... I might as well start at the beginning...

since I graduated 3-4 years ago admittedly I made a few bad decisions... I decided not to go looking far for a job because I had my heart set as a share broker as we had the first major market crash and the industry shrank...I gave a presentation to a firm about oil, and yes--> CUE (11c) ... I blew them off their seats, but they still said no about a job... and I never ballsed up to move away ... So I decided not to pursue a Finance career in Christchurch...
Also yearssss before the market crash I had turned my little savings (no handouts) into a substantial return of combined 10-13 bagger overall return in about 5 years.....
I wasnt too concerned about working because finally I felt I had an actual solid bankroll to really get stuck into the market, perhaps as a full time investor ....and I had other smaller things on the go... I never really saw myself as a trader, but I felt I could see the overall picture well... anyway, but it faultered and for the last 3-4 years the market has not beared the fruits it had before...this was the case because I held onto CUE, and going on my previous merits I saw no reason to sell because it remained discount to fair valuation, and the story never deteriorated, it got better ...... In saying that, maybe I could have been alot worse off because at least CUE had remained stable on average... but I never profited from the big swings, and I bought at the wrong time... And I sold some CUE at 30 something cents to buy NGE at 20 because I wanted to gamble on Panakawa even though I knew it was silly of me... A couple of times like that I gambled and got caught out at both ends because I would sell stock to buy another one... Occasionally i sold small amounts of CUE as I needed, while maintaining enough exposure to change my life on a big target strike... but it wasnt meant to be...
CUE has still remained relatively hedged on drilling failures as I explained, (which isn't so easy to find)... and oh did we have exploration failure...
thats the way it goes...

So I went with my passion and found a variation of a mainstream poker game I knew I could crack, and I do pretty good...as I said another time, I have come to realise that I am only getting by on poker (with some traveling), but not getting ahead in life financially as I know im capable and talented enough to do... So recently I decided to play less poker (but I still do), and I took my money off CUE to start fresh...It was my decision, and the complete sale was nothing to do with CUE... It was the opportunity cost... I felt I had better opportunities (as I said at the time)... the first thing I did was get into network marketing of an amazing weight loss product about 6 weeks ago (new to the south Island, we are the first)........ I am personally down 10kgs barely trying... 10kg more to go and I will be ripped cos I wana start surfing...our clients are loving it and recommending new customers to us, and we are building a business with so much potential... as well as selling decent volumes of stock as a start up...we were in the womans and lifestyle expo,(nearly sold out of product) and i'm the poster boy... we have just had our first major break through and signed someone up below us who is coming into the business and we have a few more lined up... so much is happening now and im glad I made the ultimate call on CUE...
so, this is where I stand currently...

.....
...
.

I only share my ideas as I see it in my mind now and in the future... I can not get it right all the time... most if not all of this stuff I post on oil I learnt myself.... so I am learning as im going... I always will be... soft markets have impacted on my judgements and outlooks... I had alot of fun before the first market crash and yes ive realised that the early stages of a buffet path I was on is not possible yet, but it is my goal to be full time on the markets... maybe in a few decades or something...
we knew the market was going to be weak, that is why 3 years ago I sold everything before the market crash but then got trigger happy on CUE... I have no current desire to buy back into CUE because I need the leverage of Matariki, but there is still big offshore leverage in it... Im not sure either way about these indonesian wells coming up.....

And im looking into a different stock with gigantic leverage which reads better, I will show some research during the week...

less than a year ago I got onto facebook and im social networking more instead of sharetrader... im welcoming fellow sharetraders to add me through my email address, flemmic3@snap.net.nz
ive found serpie, upside and a few other big cats...


im not rich... looking into it...

I will still post on CUE thread...

hope that helps... Troy,I know you now understand fully...
:cool:
.^sc

[Corporate]

SC, just remember its a journey!

What's this new stock, give us a hint (or ticker)?

Cheers,
C

[shasta]

The one thing i've always admired with Shrewd Crude is his convictions to back himself & not give up!

Especially with a concentrated focus on a couple of O&G companies, high risk indeed

Most young people with big $$$ in there eyes about creaming it in the market, tend to come in near the top of a cycle & give up when they dont crack it instantly.

I would guess most lose a fair chunk of what they started with (small amounts initially) & thats there last venture into the markets

I've personally never held CUE, but have always followed with interest SC's informative posts & given CUE is dual listed now, the interest still remains.

Shrewd, have u had a look at COI, would love your thoughts on it, i held them 4 years ago, along with STX at the time (who part owned COI)

Have some CSG permits in NZ & has sparked my interest of late

Cheers

[Corporate]

out of interest, how old are you?

[shasta]

out of interest, how old are you?

Me or Shrewd Crude?

Im 35 in November & Shrewdie is younger

[Corporate]

Me or Shrewd Crude?

Im 35 in November & Shrewdie is younger

Sorry shasta, I meant SC.

[STRAT]

Sorry shasta, I meant SC.Young enough to cause trouble and wind up Macdunk. :D

[Crypto Crude]

Corporate,
I turned 27 two weeks ago...

mackdunk, where is that fossil:p...

:cool:
.^sc

[drillfix]

Hey, Happy Bday there Shrewdy!

Hope you had a good one mate :)

[upside_umop]

If CUE goes to 25 cents then I am in. Doubt it will but hoping ;)

Interesting to see how far we've come. I expected it to test 25 cents, but it has been quite a lot lower than that. Is looking pretty good, but Maari is now becoming a minnow...it's all about PNG and Indo now, especially if that HZN article posted is true.

[Corporate]

Corporate,
I turned 27 two weeks ago...

mackdunk, where is that fossil:p...

:cool:
.^sc

My too :) good age

[troyvdh]

...how many folk spotted this today....Dow Jones Industrials 11577.00 180.00


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Todd Energy seeks four new directors for Cue Energy

Wednesday 19th October 2011
Text too small?

Cue Energy’s largest shareholder, Todd Energy, is seeking shareholder approval to take the company’s board from three to seven directors, five of whom either have direct or close connections to Todd.

The plan is revealed in the notice for Cue’s annual meeting, in Melbourne on Nov. 24, along with a new long term incentive plan for key executives, who are challenged to get the share price from the current level of around 26 Australian cents a share to 53 Australian cents by June 2013.

The increase in directors also requires an expanded directors’ fee pool, which Cue directors are asking shareholders to increase $A700,000 a year, from A$400,000 at present.

The moves come as Cue prepares to tap what it hopes will be a huge new natural gas reservoir in the North-West Shelf, a highly prospective area offshore of West Australia, where it has partnered with US mid-cap operator Apache and believes it could find large enough reserves to create a Liquefied Natural Gas operation.

The four proposed directors include two Todd senior executives, its executive vice-president upstream energy and resources Paul Moore and Todd’s manager of upstream new ventures Tim Dibb.

Todd, which owns 23.5 percent of Cue and is New Zealand’s largest privately held oil company through Todd Petroleum, has also nominated as independent directors Andrew Young and Geoffrey King, both of whom have extensive oil industry experience. King is also a former director of Singapore Petroleum, which is Cue’s second largest shareholder, at 16.6 percent.

Cue’s chairman is the immediate past chief executive of Todd Petroleum, Richard Tweedie, who serves with two other directors, Leon Musa and Steven Koroknay, each of whom currently draws a A$100,000 fee.

The nominations are to “supplement the existing board to provide the skills and experience required to take Cue Energy into the future,” Todd’s group general counsel Chris Hall said in a letter to shareholders.

“Cue Energy aims to become a top end, mid cap entity and this vision is supported by Todd Energy. The nominees possess very substantial oil and gas sector experience, which will be invaluable and Cue seeks to achieve its full potential.”

Also to be put to shareholders at the meeting is a resolution creating a new “performance rights plan” for four senior Cue executives, chief executive Mark Paton, chief financial officer Andrew Know, exploration manager Terry White, and chief commercial officer Alex Parks.

The scheme will deliver fully paid ordinary shares at no cost to the foursome if, at any time between July 1 2012 and June 30 2013 the share price rises above 53 Australian cents for 30 or more consecutive trading days. The rights will lapse at June 30 2013 if the vesting hurdle isn’t met, but new long term performance plans will be established annually.

The share price has never traded above 40 Australian cents in the last four years.

Half the shares issued under the scheme may be sold, but the other half must be held for at least a year, with a total of 4 million shares at stake – 1.6 million potentially available for Paton, and 800,000 each available for Knox, White, and Parks.

In a presentation to an oil conference last month, Cue said it was pursuing a five year vision to achieve market capitalisation of A$1 billion-plus, compared with A$180.7 million at a share price of 26 Australian cents, and to be between fifth and 10th largest exploration and production companies listed on the ASX. The company is also listed on the NZX and last traded at 35 NZ cents.

In calendar 2011, the company expects to produce around 2,500 barrels of oil and gas per day equivalent, rising sharply from 2014 if other major prospects are successful, to be as high as 6,500 barrels equivalent in 2015/16.

BusinessDesk.co.nz
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[troyvdh]

sorry about the quality of this message...but whats amazes me is this info was not declared by CUE....funny old world...cheers

[BWH]

It was on the NZX website. ASB Securities mentioned an announcement but I had to go to NZX to see what it was.

[ELYOB]

I don't have any new info , but talking to CUE this week , seems like a new tune is being played . Latest presentation seems more upbeat than usual. They talk of new strategy , maybe a new aquisition , or other . They are saying watch this space . My point in posting is not to pump CUE but just be alert on a "watch basis"

Holding CUE

[troyvdh]

...I would appreciate if a kind person could decipher the latest of Cue's announcments....I cannot understand why they fail to mention that CUE is also listed in NZ...and if it is a gain/loss for CUE holders given this div/dilution to this other party....cheers...and yes i will be communicating my concerns to CUE...

cheers...

[macduffy]

What announcement is that, troyvdh?

The only recent one that I can find, indirectly involving CUE, is by OXX who have announced a bonus issue of CUE shares to their (OXX) shareholders. These aren't newly issued shares but have been issued to OXX as part of a previous transaction. Just a change of shareholders as far as CUE is concerned.

[ELYOB]

I think this is a way of rewarding OXX shareholders as individuals , with an expected growth in CUE ..... CUE is the company in the associate group that is about to lead out ... It seems to make a lot of good sense , utilising Tax credits on way , for OXX shareholders .

A sign that it is all about to happen .

[tobo]

all recent announcements say at the top what exchanges CUE is listed on (including NZX).
What date is the ann that you are talking about?

[colinm_au]

An IN-SPECIE distribution is "the distribution of an asset in its present form, rather than selling it and distributing the cash" .... http://www.investopedia.com/terms/i/in_specie.asp#ixzz1kC4rjV4i

This will result in OXX distributing the 43,656,168 shares (6.28%) in CUE that they currently hold to their shareholders on the basis of 1 CUE share for every 5 OXX shares held ...

The effect on CUE is that they will gain many new small shareholders who are currently OXX shareholders. These 'new' shareholders may want to liquidate their small holdings or increase their holdings when they look into the company and realise just how good CUE is !!! I expect it will be positive for CUE's SP ...

[bung5]

quaterly report out showing just over 2million in debt remaining and will be paid off in the coming months.

Big year ahead for CUE!

[ELYOB]

Cue has been ignored , but today showed a bit of life . I also agree that 2012 is to be very active , and medium to large happenings . The Market has not noticed , but some prominent oiler analysts have got it out front with DLS BRU MAD and COE .

Actually , we are only days from more market influencing news flow from Kalimantan .......suppose not many in Oztralasia even know it exists ????

Someone out there recons we are on way to atleast $!.40 . The TODD has a game plan I am very sure ?

[geezy]

Always thought CUE was a great company waiting to burst, but oilers has been getting lots of slack until recently :) good to see it getting some legs again. back to 30+ perhaps?

[Crypto Crude]

geezy,Wouldn't count on it...The variance around exploration drilling blurrs any real valuations<->'predicted outcomes', meaning that anythings possible in the shorterterm...elyob,Yes Todds had their game plan???, and it was to pull off 1 single explorwell in 3 years... and it didn't work on numerous outings......its still one on the list, but had so many chances on the big ones thatdidn't happen...and I personally ran out of time to make it as otherinvestments circled..I could only ignore the heat of unconventional for so long...->Think I got lucky...so things have changed for me..and I have no regrets........hey its rolling on out again, and it could easily work this time, knowingthe luck in that part of my roll it could work against me... but I reallyhope CUE pulls it indo......and I'm happy, no regrets......without naming names,Sharetraders biggest characters have been well known to pick brilliantstocks... BUT, the timing of when these stocks make it big are alwaysunknown...-->We were a select group to gain insight into CSG before/as it happened andprofited... ->TY to our friends who had the insight and lead us straight into these newinvestments, and again the best stocks in Shale have been spotted ... so, as I sat aside for a good chunk,it lingered in my mind......'what lingered?'don't miss Shale gas AUS...and then it came to me,don't miss NWE...We don't know when, but we know it' happens...Perhaps CUE has some similarities to that... but this shale is on a wholenew scale...please look into shale...don't know what happens for me at the next exit,but there is one...and we build a new town on it...:cool:.^sc

[troyvdh]

I am at a loss ...can anyone shed any light as to why the SP has retreated...given that the recent exploration indicated apparently positive hydrocarbons and the future of this company is/has been viewed as being generally positive...I admit to being quite unimpressed with those folk with an investment horizon of minutes as opposed to years.

[STRAT]

I am at a loss ...can anyone shed any light as to why the SP has retreated...given that the recent exploration indicated apparently positive hydrocarbons and the future of this company is/has been viewed as being generally positive...I admit to being quite unimpressed with those folk with an investment horizon of minutes as opposed to years.Hi Troy.
Traders in action. I wouldnt be too worried. The uptrend is still in tact.

As to those who have short term horizons its probably worthy of note that CUE is only 4c higher than it was at the start of this thread and was at break even in December.

As a long term hold it has been a real disapointment, only performing between March 09 and October 10. .

Oh, by the way...... AS Mr P is no longer here to give me the spanking I deserve I will confess to holding CUE from 14c, knowing full well I should have dumped them in November 2010 :blush:

To anyone who has held through this thread or longer. Now is not the time to loose the faith I reckon.

[troyvdh]

....cheers for that....my last big adventure was Summit.....5 cents to 6.90...cheers

[STRAT]

....cheers for that....my last big adventure was Summit.....5 cents to 6.90...cheersThats awsome.
I rode that bus too but got on way way later than 5c ( like $4 or something )
I doubt CUE will be taking you that far.

[macduffy]

I held CUE for far too long for a very modest profit but decided some time ago that although I like the oilies, they're strictly for trading now as far as I'm concerned.

As for CUE's recent SP history, isn't it a case of the market buying the rumour (impending drill announcement) and then selling the fact?

[STRAT]

I held CUE for far too long for a very modest profit but decided some time ago that although I like the oilies, they're strictly for trading now as far as I'm concerned. As for CUE's recent SP history, isn't it a case of the market buying the rumour (impending drill announcement) and then selling the fact?Hi Macduffy.
A bit of that and mostly just trundling along behind the ASX. ASX in green

[p2r]

Well the market seems to have it's imagination stimulated to the latest news from the dragon well in Indonesia.

[gazprom1]

CUE at 8 month high this morning on good volume. More news due this week from drilling. They have another slot for the rig after current drill and the target, if their presentation material is correct, is an oil lead.

Gazprom

[gazprom1]

Added more CUE today at 29 cents. Cautiously optimistic about its prospects and the current drill. revenue comign in but also spending plenty on develoment and exploration.

Gazprom

[Corporate]

Added more CUE today at 29 cents. Cautiously optimistic about its prospects and the current drill. revenue comign in but also spending plenty on develoment and exploration.

Gazprom

Gaz, tried sending you a message put your inbox is full!

[gazprom1]

Sorry, I have freed up some space.

Gaz

[soltrader]

Anyone understand what today's announcement means, Re: Naga Utara-1 ?

[Corporate]

Anyone understand what today's announcement means, Re: Naga Utara-1 ?

It means that no commercial hydrocarbons were found and the well is being abandoned.

[bung5]

quite luckily sold out yesterday to buy into the AJQ IPO. Shareprice not going to like this news.
If the next well is a dud will slip back to the low 20's it was earlier the year.

[ELYOB]

Over reaction today on the sell-off . Naga Utara-1 was only valued at 3c for CUE on success , so why flog ones shares . The rig moves on to the big 20mmbbloe oil well some klms to the south which will be worth 12c or more to CUE . So the flogging is stupid , they will only buy them back next week . I am out to double my large holding at 26.5c , maybe the last chance for cheap entry this year . The plays are on through till Feb13! WHy WHy Why!!!! Just plain stupid ! today

[bung5]

the high oil and gas sharing with the indo govt put me off for the time being.

[seaosh]

Finally sat down and read through the March 20 Presentation.

Bit disappointing that the 2Q drill by Woodside in WA-389-P will now target Banambu Deep (potential gas volumes 1.5 TCF). I thought it was going to be Caterina (potential gas volumes 12 TCF).

Shareprice reaction in anticipation of this drill may be minimal. Perhaps it's worth 10 cents per share on success?

After the WA-389-P drill I'm not sure what there will be to excite the shareprice until further offshore Taranaki drilling in 1H 2013. Possible exception for the Barikewa appraisal drill in 4Q 2012.

[bung5]

I think you are right seaosh. I'm out for this drill and hoping to re enter again in the low 20's if its a dud.

[Crypto Crude]

CUE is a great stock...
Its my favourite conventional oil stock...
times are changing... we are in the early stages of a huge shift of global energy output... USA is back, and better than ever...
Goldman sachs reports said USA will take over as number 1 international energy producer in 2017... the reason, shale gas...
This change is not for conventional stocks... great stocks like CUE are not going to directly appreciate from this...
for the smart investor, its all about shale gas...
and for once I have timed this spot on...

Its all about opportunity cost, and because of that I don't see me rebuying CUE again...

also,
CUE have the TCF targets, as we have seen over the years... the inherent risks have results in many failures...
and the costs to drill these offshore wells are huge...

right now, we are drilling known TCF shales,
that are strikes before we drill them...

totally different risks...
but, with payoff to boot...
amongst other things, this is what has me so excited...



shale gas....
Made in America...
and right now its emerging in Aussie...
more risky at the moment because these shale stocks have run so so hard... but, with the pull back in the last week... only a matter of time before we go to the next level...

JDG previously showed his dissapointment towards me and CUE... so I am very happy with his NWE purchase...
look into these ones champ...

NWE TTE KEY GRK

:cool:
.^sc

[ELYOB]

Is CUE being held for its Chinese shareholders . This seems like the lodgical take-out ? A Perth broker put that spin to me last week .

[bung5]

Not unless the Todd family have something to do with it. They own a large blocking stake and have majority seats on the board.

Shrewd - you getting in on AJQ listing 26th of april?

[ELYOB]

Todd Family are certainly not in this for the dividends. Any Chinese takeaway would be based on its merit. This stock has a chance to test 50-100cents in coming months ....?

[Crypto Crude]

no plans as such bung...
I will just wait and see what happens...
I wont be investing in on a big spike, there are other shale stocks around...
some of these ones I mentioned, just like TTE are only 10 million cap... so much smaller in market cap. so they have the pinch of leverage in their own way...

Im actual bidding on some GRK and looking at KEY...
:cool:
.^sc

[Waiuta]

Chairman, Richard Tweedie acquiring 187,647 shares. Surely worth noting

[seaosh]

Just saw that too. Looking good.

What exactly does it mean though, saying it's an on market trade "pursuant to Director's Share Savings Plan"? He did stump up the cash himself I hope.

[troyvdh]

..well done Waiuta...I did not see that...where did you ?.....as an aside some folk in the past have stated that CUE are/is a company destined for $1 plus ..so i suppose that the fact that an empolyee of CUe has supposedly increased his holding (on the face of it)..then I suppose this information has to be seen as a positive.

[macduffy]

Just saw that too. Looking good.

What exactly does it mean though, saying it's an on market trade "pursuant to Director's Share Savings Plan"? He did stump up the cash himself I hope.

I'm pretty sure that RT has bought shares pursuant to this plan before. There's probably a clause in his employment contract that requires him to spend a portion of his director's fees in this way.

[Waiuta]

Noticed it on HC and the company's earlier reports stated that magical $1 in their 3 -5 vision
http://www.asx.com.au/asxpdf/20111124/pdf/422rzrjb0rm4s4.pdf

[ELYOB]

Another presentation today with lack of detail overall .... speaking with Euroz say they like the BHPP annoucement JV ....a big plus !

Stockanalysis says in Wed edition that the JV with BHPP is a surpriser .... Both WPL and BHPP have aims for any discovery . CUE is now carried for 2 wells @ 35% share .

[STRAT]

Noticed it on HC and the company's earlier reports stated that magical $1 in their 3 -5 vision
http://www.asx.com.au/asxpdf/20111124/pdf/422rzrjb0rm4s4.pdfWasnt that their vision 3 - 5 ago?

[seaosh]

CUE up strongly on a down day. Could something be up?

[gazprom1]

CUE up strongly on a down day. Could something be up?

I am not sure there is too much is the SP rise yesterday. Very few shares traded at 27...SP could quite easily have been 26 cents. Naga Selatan 1 is drilling through potential hydocarbon zones so a few may be jumping on board. Banambu has spudded and that has huge upside if successful. IMO it is an interesting time to be a CUE shareholder.

Gazprom

Discl: Hold

[bermuda]

I am not sure there is too much is the SP rise yesterday. Very few shares traded at 27...SP could quite easily have been 26 cents. Naga Selatan 1 is drilling through potential hydocarbon zones so a few may be jumping on board. Banambu has spudded and that has huge upside if successful. IMO it is an interesting time to be a CUE shareholder.

Gazprom

Discl: Hold

Gazprom,
I got some via Octanex. This Naga Selatan drill is getting close and as you say Banambu could send this rocketing. But as always the rotary lie detector will let us know. I am definitely holding. Cue is oversold and I will take the risk.

[gazprom1]

Gazprom,
I got some via Octanex. This Naga Selatan drill is getting close and as you say Banambu could send this rocketing. But as always the rotary lie detector will let us know. I am definitely holding. Cue is oversold and I will take the risk.

I agree Bermuda - has just been marked down with the rest of the market despite having producing assets and reasonable prospects. Would be good to get a hit with one of the two (or both for that matter)...!!!!

Gazprom

[seaosh]

Banambu has spudded and that has huge upside if successful.

Less upside than Caterina was going to have. I'm actually a little annoyed. But never mind I guess. Fingers crossed. . .

[Crypto Crude]

get NWE, TTE...
that is all...
:cool:
.^sc

[ELYOB]

CUE gave a talk in Hong Kong this week . They mentioned that TODD group are behind the company and that TODD Group is a 5 billion dollar outfit . TODD has strengthened its position on the CUE board with specialists in development . CUE will move in the future to operatorship of projects .

[Coalman]

CUE gave a talk in Hong Kong this week . They mentioned that TODD group are behind the company and that TODD Group is a 5 billion dollar outfit . TODD has strengthened its position on the CUE board with specialists in development . CUE will move in the future to operatorship of projects .
I hope you are right. CUE is not going the way of PRC and implode or should I say explode.

[macduffy]

Banambu Deep 1 to be plugged and abandoned.

http://www.asx.com.au/asxpdf/20120628/pdf/42732q93kb6l2p.pdf

[h2so4]

Banambu Deep 1 to be plugged and abandoned.

http://www.asx.com.au/asxpdf/20120628/pdf/42732q93kb6l2p.pdf

Seems like a good time to buy.

I value their production assets at $600m, with $50m in the bank,positive cash flow and no debt I still like CUE.

[h2so4]

Seems like a good time to buy.

I value their production assets at $600m, with $50m in the bank,positive cash flow and no debt I still like CUE.

I think $300m is more in the ball park. Still CUE was cheap today:)

[ELYOB]

Strachan [Stockanalysis] told clients after result [both wells dusters] last night , that CUE value ihho was;

Cash + assets = 25c ; risked exploration adjusted down (7c); giving total adjusted value 37c , down from 44c.

Another analyst informed me that the 2 unsuccessful results will be a game changer, and CUE has been freed up to move on with new strategies. The thinking is that the NWS play hogtied the company in commitment . One can expect a sea change ????

[Crypto Crude]

Strachan [Stockanalysis] told clients after result [both wells dusters] last night , that CUE value ihho was;

Cash + assets = 25c ; risked exploration adjusted down (7c); giving total adjusted value 37c , down from 44c.

Another analyst informed me that the 2 unsuccessful results will be a game changer, and CUE has been freed up to move on with new strategies. The thinking is that the NWS play hogtied the company in commitment . One can expect a sea change ????

CUE is a great company, but with many exploration drilling failures over many years it has really hampered the company...
Those skittles were lined up, and we could not even knock down one Pin.... explor drilling is a luck mans game, but to fail over and over is very unlucky...
It has always been a good thing to have the downside protected over the medium term with these wells, and the upside open... but that upside never eventuated...
Theres much more in this company,
and Its a great long term investment, but I ran out of time and choose a new, and more certain path...

Lets hope CUE keep doing what they are good at, farming down WA offshore and chancing on a big strike for free...
and getting around to developing Barikewa, and moving into phase two of the Maari development...
Looks pretty good for an oil in Pike, and a small oil pool in Maari south (similar to Maari with the deeper targets)
but hey, I said that about Manaia,
so anything is possible...

CUE won't be going anywhere anytime soon...
Lots happening, but these things take time,
and drilling failures don't help...

make sure you get some shale gas,
NWE TTE TTEO...
its all about to happen in the next few weeks

:cool:
.^sc

[troyvdh]

...given the current SP do folk expect the major shareholders.....to be "topping up".......it would be quite comforting........I continue to hold 131000

[Waiuta]

Cash flow great but 50% drop in a couple of months with two failed holes which cost CUE nothing makes me wonder what else is going on. Fundamentals great, Market sentiment????????????????

Continuing to hold

[macduffy]

Cash flow great but 50% drop in a couple of months with two failed holes

So the speculative money has sold and moved on to something with more immediate action.

[h2so4]

The fall in gas prices may have something to do with it. Still think it is a bargain around these prices.

[Corporate]

The fall in gas prices may have something to do with it. Still think it is a bargain around these prices.

Is that the fall in indo gas prices?

[h2so4]

Is that the fall in indo gas prices?

I'm looking at US gas futures, currently well under $3.

[colinm_au]

Santos reported in their QE 30062012 “Oil production from Oyong was almost 50% higher than Q1 2012 due to additional production from the Oyong infill well drilled in the first quarter and the shutdowns required in the first quarter to bring Wortel online. “

Did anyone notice:
Cue reported in their QE 30062012
"• Oyong Field
Cue’s share of condensate sales receipts was 368 barrels which generated A$0.03 million in revenue and gas sales of 377,829
mcf which generated A$1.0 million in revenue received during the quarter. The Oyong oil production rate is currently around
2500 bopd (gross) and the gas rate is 38 MMscfd (gross). The reliability of the production facilities has been excellent."

Andrew Knox has been quick to confirm "Oyong produced but we didn't get any lifting receipts until July. Wortel is producing at roughly twice Oyong gas and yes at approximately twice the price."

I also noted "Some Maari revenue was delayed until July due to the change to quarterly liftings"

With the SP under pressure from a persistent seller (possibly E.Albers???), production figures missing 3 months of Oyong and some Maari production, little to drive the short term SP is it time for a takeover ???

Anyway, next QE results should be superb ...

[ELYOB]

All in all , a strong report from CUE for the Q~! Expect influence from WPL who are short of gas . Wait for result of Ananke -1 well which if positive will say something for Maxwell prospect ; or if Ananke-1 is a dud , WPL could be looking at Catalina to source more gas .

[Corporate]

Well put! I purchased some CUE yesterday....15.5c seems way to cheap.


Santos reported in their QE 30062012 “Oil production from Oyong was almost 50% higher than Q1 2012 due to additional production from the Oyong infill well drilled in the first quarter and the shutdowns required in the first quarter to bring Wortel online. “

Did anyone notice:
Cue reported in their QE 30062012
"• Oyong Field
Cue’s share of condensate sales receipts was 368 barrels which generated A$0.03 million in revenue and gas sales of 377,829
mcf which generated A$1.0 million in revenue received during the quarter. The Oyong oil production rate is currently around
2500 bopd (gross) and the gas rate is 38 MMscfd (gross). The reliability of the production facilities has been excellent."

Andrew Knox has been quick to confirm "Oyong produced but we didn't get any lifting receipts until July. Wortel is producing at roughly twice Oyong gas and yes at approximately twice the price."

I also noted "Some Maari revenue was delayed until July due to the change to quarterly liftings"

With the SP under pressure from a persistent seller (possibly E.Albers???), production figures missing 3 months of Oyong and some Maari production, little to drive the short term SP is it time for a takeover ???

Anyway, next QE results should be superb ...

[blockhead]

Cheaper than the 42c Blocky paid a fair while ago, sticking with them though, oil is always an up and down caper

[ELYOB]

Strachan , out with detailed large report on the CUE , yesterday . I would refer people to have a look , too much for me to post .

Note : Strachan => Stockanalysis Report .

[macduffy]

Subscribers only? Or have I missed something?

[ELYOB]

Subscribers only , but maybe CUE may help !!!

[Corporate]

Great report here

http://online.octaphillip.com/pdf/CUE_120723.pdf

[macduffy]

Great report here

http://online.octaphillip.com/pdf/CUE_120723.pdf

Yes, good positive report.

Note the caveat on the recommendation, though:

"We rate Cue Energy Resources as BUY with a price target of $0.38, equivalent to our risked
valuation of the Company. The investment, however, comes with a high risk as the upside
value of the Company is dependent on drilling success and the price of oil remaining at our
forecast levels "

[Corporate]

Yes, good positive report.

Note the caveat on the recommendation, though:

"We rate Cue Energy Resources as BUY with a price target of $0.38, equivalent to our risked
valuation of the Company. The investment, however, comes with a high risk as the upside
value of the Company is dependent on drilling success and the price of oil remaining at our
forecast levels "

Yes but to be fair, that is not different to any other oiler!

[bung5]

Back in CUE today is just too good to pass up on their producing assets. P/E ratio of 4.83. P/E on enterprise value around 2.5??

[Waiuta]

I'm diasappointed in CUE's performance and can't help thinking there were plenty who new of the 70% profit drop beore the results were announced.
How else can you explain the SP drop?

Still hold and hope

[ELYOB]

Trouble with some analysts and posters is they are looking in the rear view mirror and making comment.

My assessment is my own , dont need others to work it out .

ASX is tough along with world markets till we get the USA elections away and Obama is kicked out! Stocks are going to get squeezed till then . Lots more to come ! The big money is in USA offshore accounts and they are not going to do anything till they see the rear end of Obama. Obama is lame , and the python is squeezing .....

CUE , what about it! CUE is playing it well and not wasting itself . Obviously they watch what is going on in markets . By Feb 13 , they will have 50m dollars in bank and ready with plays , when I expect markets to be in recovery mode . There are plenty of deals out there to be made if one is serious .....

[bung5]

Cue is great stock for long term trading ( short term investing?) Right now is the perfect time for this.

@15c there is low downside with cash in the bank and production income. Not much drilling this quarter but once the drill rigs start again IMO will start tracking back up as the traders get back in.

[colinm_au]

Has anyone noticed the lack of actual production data (not sales) reported by CUE ???

Why was the huge increase in Reserves at Maari reported by HZN not reported by CUE ???

Sales figures reported seem very understated when compared to JV partners results ...

The previous quarter results were poor because they included NO sales from Oyong and underlifting at Maari, yet these values should have shown up in this quarter ...

The Buyers keep getting hammered by a large seller and the SP is suffering ... Surely HZN's announcement of a 60% increase in reserves at Maari, CUE's main asset would have resulted in a SP increase ...


What is going on ?

[Corporate]

Hi Colinm

CUE does provide the average production for the period and the amount of hydrocarbon sales.

The different in Maari sales across CUE and HZN for the 30 September quarter was 92k compared to 37k. This is mainly due to Horizon having a 10% interest compared to CUE's 5% interest. The rest is likely to be attributable to the timing of liftings. Each party is usually responsible for its own crude marketing and sales.

This can be seen when you look at the two quarterly results for the three months ended 30 June. Horizon had Maari sales of 73k barrels and CUE had Maari sales of 41.7k barrels.

It all washes out in the end.

I think HZN's share price was pushing ahead on the recent results from PNG and China rather than the reserver revision for Maari. The reserves don't mean much if they can't get the oil out of the ground.

CUE will need to do its own assessment of Maari reserves rather than rely on Horizon and its advisors.

Cheers,
C

[colinm_au]

Hi Corporate !

Given the company is able to provide the exact quantum of sales, I don't understand why they cannot also provide the actual production figures ...

As someone that takes a keen interest in this company, I like to be able to assess the performance of wells accurately. Providing a ballpark figure (eg. Maari 545 BOPD) makes it impossible to determine production over/underlift .. an underlift of 20,000 BBL @ $100 = M$2 ... Not an inconsiderable amount for a company with Mcap M$93 currently.

Whilst it may 'all wash out' in the end ... Transparency is important if only to ensure that human error in reporting figures can be determined ...

My understanding is that the reserves figures were determined by the operator OMV and not HZN ...

Whilst you may feel that reserves don't mean much 'if they can't get the oil out of the ground' ... Some investors do value companies on actual reserves ... Not all of us are just 'Mug Punters' !

The recent results for HZN in China have not been quantified have they ... So the market has very little idea of the significance of the latest drilling results.
I doubt if the market is revaluing HZN based on PNG drilling success 6 months ago !

Recent reporting by CUE including the recent analyst report commissioned by the board do little to promote the company's prospects ...
Especially given the substantive errors it contains ! An example of this is listing CUE's interest in Maari as 3% which is incorrect ... it is 5%

I would like to know more about STO's plans to develop Jeruk and have a more definitive timeframe for appraisal drilling on the Naga Utara discovery than 2013 !!!

The move to add to the board 2 years ago was on the basis that Todd wanted to get the company moving ... well not much exploration or development over 18 months is killing the SP and I fear that this will be the catalyst for Todd to come along and take the company out with a very low ball offer.

At the moment we have a Mcap of M$A93 and M$A38 in cash which values the significant producing assets and exploration potential at a paltry M$A55 ...

NZ alone should be worth in excess of M$A100 ... 2.4M BBL (1P) @ 20$/BBL and 2M BBL (2P) @10$/BBL and 30M BBL (3C) @ 1$/BBL

My 2 cents worth !!!

Disclosure: I own a lot of shares in CUE !!!

[Corporate]

Have you expressed your concerns to management?

Regarding reserves. The operator will determine what they believe the reserves are but then it is up to the respective partners as to whether they adopt the operators number. And in this case HZN commissioned an independant consultant to review the reserve position. Each partner will use different "economics" to determine the field life and what reserves can be ultimately produced profitably. Having said this, I would take the independent assessment as fairly reliable.

Reserves are important. However, cash conversion is paramount and the major dissapointment with Maari has always been the rate the oil could be extracted. This doesn't mean I don't like CUE!

HZN will be adding 4,000bopd in production by Q1/2013 from China. The drilling results have only added to the potentially profitability of this development. This will be partially driving their share price.

There is a lot going on behind the scenes in PNG.

Anyway. I rate CUE and will keep buying!

Sorry rushed post.

[gazprom1]

Hi colinm,

IMO, China and PNG have been the main drivers behind the recent SP recovery for HZN not Maari. As Corporate pointed out, China comes on stream Dec/ Jan and the current exploration success will be tied straight back to further increase production during 2013. There are still two exploration wells to come - one result any day and they could move HZN's SP either way. That is, they will IMO have an impact on the SP one way or the other.

Yes, the company should be able to get accurate numbers in their financials.

Is CUE at T/O target at these levels?

Cheers
Gaz

Discl. Own

[macduffy]

Is CUE at T/O target at these levels?


Only from Todds, I would think. But they've had years to make a move had they wanted to, often at lower prices than today's.

Disc: Not holding.

[ELYOB]

It must be remembered that CUE has played with Apache ;BHPP;Woodside and others in the past months . These majors have been hurt , with a series of their own well disappointments . I guess they are all standing back to adjust strategy , and CUE is still right on the door step .... and no doubt will knock on the door again soon.

[colinm_au]

Hi Corporate, Gazprom1, macduffy & ELYOB !

Corporate - Yes, NPV (of reserves) is not just a concept !
I fail to understand why the partners have not added more producer wells sooner to utilize the unused production capacity available at Maari, given the rate of production actually being achieved. This would significantly improve the profitabilty of the field.
Given the field has been in production for almost 5 years ... someone has been asleep at the wheel !

I also see HZN as substantially undervalued and have a significant stake which I regret reducing to buy more CUE ... but my model indicates CUE is better value

Gazprom1, the trouble with HZN in China is that we have no idea of production cost, tax regime or rates of actual production ala Maari ... I have been disappointed that no details of flow rate or size of discovery have been announced for the recent discovery. My reading is that the drilling is really only appraisal drilling ...

macduffy, I am sure that Todd would be happy to sell their stake in CUE for the right price to Singapore (CNOOC) or anyone else. Given the SP was last at this level back in the GFC 2008/9, I tend to disagree with you about Todds having years to make a move ! In fact one could argue that Todd's have been waiting to de-risk the assets and after increasing board representation so that they can slow exploration ie. no activity for 18 months - can now put out a low ball offer.

ELYOB, it appears that OXX have had little trouble finding majors to drill similiar NWS acreage at much better terms than CUE managed ... In fact it was quite disapointing to see WPL able to farm out Benambra at much better terms than the original CUE farm down. Certainly, the market does not appear to be valuing the NWS acreage at all !!!

Certainly, my observations of recent trading (2mths) in CUE is that we have a couple of large sellers trying to keep the price 'range' bound and a large buyer who does not like to see the price at 13.5 cents !!! The OXX in specie distribution in April may have added selling pressure ... and may be proving irresistable to those looking to short the stock ...

Disclosure: I own a lot of shares in CUE and HZN !!!

[gazprom1]

CUE certainly has had a few disappointments on the exploration fron colinm. I do not want make ny excuses for what appears to be fairly tardy management. however, if any of the recent exploration wells had come in the SP would be well North of where it is today.

Re China, if you look at ROC's production costs and profitability from Zhang Dao(?) you can get a handle on costs involved in China. No, they have not been specific about production numbers and I am sure they have some numbers in-house. Annoying. ROC and HZN have stated that the recent discovery will add materially" to produiction and reserves. Good news is that project is coming in on budget (or under) and the timing of first oil is not slipping (as can be the case).

I prefer ROC to both HZN and CUE but believe they all have material upside. HZN is near the top of its trading range as is ROC but at some point IMO they will break out and find news levels much like SXY. Production will be compelling.

But for a duster in China today, market looks set for a good open...

Gaz

[Corporate]

Gaz I agree. ROC's operating costs at Zhao Dong were $9 per barrel for the first half of this year. This is absolutely fantastic for a quality oil! I think ROC/HZN will be looking for similar operating cost at the Beibu Gulf development.

Colinm, the Maari delivered first oil in Feburary 2009. It has been producing for less than 4 years. The partners have had a huge amount of trouble with the current wells and keeping the pumps online. You can't just go drilling new wells without a clear understanding of the subsea and part of this is having data of long term consistent production uptime. New wells could have the same issues are the current wells! I'm not making excuses for them, but this is risky business and hugely expensive if you stuff it up!

Regarding Horizon. They have a very large market cap and I think there is a lot of expectation built into their valuation.

CUE is great value at the moment. Market cap of $97m, less cash of $38m equates to an EV of $59m.

[Corporate]

Separately, what else are you guys eying up at the moment? I'm accumulating AJQ, AWE and OEL.

[ELYOB]

Plays = MEO SPS CTR QPN + the CUE ! sold HZN 39c [28c-39c] hold 83% cash . High risk being in market till next may2013

[colinm_au]

I would love to be holding 83% cash !!!

So many great opportunities ...

I expect that we will shortly start to see the energy sector rise on the back of takeover activity or the fall in the AUD ... which cannot be far away !

[gazprom1]

Separately, what else are you guys eying up at the moment? I'm accumulating AJQ, AWE and OEL.

Hey Corp

Sorry for the lack of communication the past few months...little bit going on.

Bought plenty of MEO at 20-21...hope the ENI testing is positive. Plenty of drilling going on so reasonable play.

ROC surely has to be a star in the next 6 months if market conditions are half reasonable (I know you mentioned it a few weeks ago). Just such a positive story and $50 mil in the bank and increasing daily with an active drilling campaign. Stopped buying at the moment because I feel a little bit uncomfortable at these levels but will probably kick myself later. Is my largest holding. Looking for a 1 bagger on it.

OEL/ CUE are cheap but own enough. Keeping my eye on PAN (an old favourite that has treated me well). CCU is all bad for me so watching for an exit....ramping up production but costs have been high and may continue to be higher than planned.

Hope all is well.

Gaz

PS Not a fan of OXX even at these levels.

[JBmurc]

yeah I agree on ROC brought a good few @ 37.5 but don't think there expensive @ 44c so will likely buy more ...some solid upside there,,,
also think CUE's a buy

[colinm_au]

Wonder what they want the money for ???

http://nz.finance.yahoo.com/news/todd-corp-ends-22-interest-210643197.html

A takeover of CUE ???

[colinm_au]

For those interested...

Andrew Knox has confirmed:
"Sorry for the late response, the production rate is reported but a lot of the production has been sold but payment has not been received at the end of September.

The reserves upgrade announced by Horizon was on the back of a report they had themselves individually commissioned to support their reserved based lending facility as I understand it, this did get reported under our ticker code. We have not seen the report."

As far as HZN & ROC ... latest drilling results announced today very positive ... as always wish I had more HZN !
"The well has penetrated a total of 58 m of oil pay (vertical thickness) in multiple zones in the Weizhou formation, the thickest individual pay interval being 38 m."

[troyvdh]

Thanks for your posts and enthusiasim....Ive held for yonks...mainly because of Todds holding and that the once boss of Todds "oil" interests retired but remained with CUE...(sorry I should know his name but am to lazy)....re a takeover....man.... thats a bold question given that the "Todd empire" appears very widespread indeed....who knows....cheers anyway...

dis 131000 cue....

[Corporate]

I see on stuff that the mjv are going to exercise the option to buy the fpso

[bung5]

Think Cue will be a takeover target now

[troyvdh]

dear bung....what makes you think that...cue has been viewed by some commentators as a $1 share in waiting....not wishing (again) to appear paranoid ... perhaps this is part of your reasoning....Todd hold a good chunk (20 +% bought at 20 + cents years ago)...the "mkt" has not reflected this...so efforts have been made to depress the SP...????
.....asset backing 23NZ.....what ..is yours (and any one else's ) best guess of what will be the outcome...

...Come to think of it I may ring and ask them....perhaps we all should....sussing out out "how" they say "cannot answer that"....then asking how many shares they hold...and are they happy....and would they recommend purchasing more shares perhaps....???....

[macduffy]

C'mon, troyvdh..... you know you'd be wasting your time.....

;)

[Corporate]

Chairman gone
CEO gone
Maari production down to 6,500 bopd

To much for me. I'm out as well.

Good luck guys

[Crypto Crude]

Chairman gone
CEO gone
Maari production down to 6,500 bopd

To much for me. I'm out as well.

Good luck guys

well,
If I went on about Maari, id start to sound like shasta on OEL............................................... .................................................. .................... but I never rated OEL and maari is strong to wind down any oiler for a solid decade...
CUE have drilled out and is running out of opportunities for the growth side of the business.......
there is more behind this, but other things in the market place are happening....
Over the last half year I have looked at CUE and thought, oh yeah......
...
I am quite keen on this oxx with today OMV announced lead program which could benefit OXX 5 times CUE's maari... a long gamble but with winchester and palta and a mini cap supports the strongest gamble... one which I would describe as the greatest gamble we have ever seen for blue sky in oil.... OXX have failed before with this, the company will fail again.... the company only ever needed 1 strike, then its all on... and our baby continues to roll out wells willy nilly.... its all there..... I like a little gamble with some strong shale in behind...
lets party...
:cool:
.^sc

[troyvdh]

dear corporate//where did you read that the chairman had gone-Tweedie ?....Was this the bloke who headed -Todd's oil interests ?

cheers troy

[Corporate]

Its at the end of his chairman presentation

[colinm_au]

Hi SC !

I am a lot more positive about CUE than OXX ...Even with poor performance at Maari Cash increased by M$5 for the QE !

CUE have 3 developed projects providing solid revenue as well as significant cash reserves to fund acquisitions and exploration !
CUE have plenty of prospects left to develop ... Mahakam Hilir PSC Exploration, SE Gobe, Barikewa
and explore ... Carnarvon Basin Permits WA-389-P ,WA-359-P, WA-360-P , WA-409-P ,WA-361-P
NEW ZEALAND permits PMP 38160, PEP 51149 ,PEP51313

Whilst recent production at Maari has encountered problems the resource is significant and these problems will ultimately be solved !
Oyong and Wortel continue to perform well ...

Good luck with OXX and the terms of their farm-outs ...

Disclosure: I own lot's of CUE and NO OXX !!!

[Crypto Crude]

colin,
I dont want to compare cue to oxx... it is a dumb comparison.. but on paper I would be buying other stocks over cue which ultimately shutdown any sort of re entry...
cue have drilled out, and lack any sort of big exploration upsides in the next year to boom the company... with the same sort of protected downside cue will box along and on that I would rather be cashed up ...

an excellent stock with hard assets but no end to the time frames to unlock these hidden treasures any time soon... I would expect cue to be ramping up over the next few years, and it is true, this is a good entry price... but not an investment for me... it always was about the free exploration kick and that just isnt happening...
I am a gambler at heart and will choose the gambling where its best served...
keep in touch...
:cool:
.^sc

[JBmurc]

Yeah I have to agree SC I know a few with good size CUE holdings that can't believe the SP,,, but if they haven't got much going on in the short-mid term then there unlikely to move much where OXX could re-rate massively any day now on the back of the Palta exploration well success Shell is drilling....(overall OXX have three solid JV drills with majors over the next 12months with likely more from the same majors going forward)

--OXX is worth 53mill less than CUE in market value currently ...

[colinm_au]

Agreed Comparisons seem a little pointless ... Any number of other companies are drilling in the near term !

As far as OXX/CUE - CUE has significant cash and income, OXX has little cash and no income

CUE will be appraising Mahakam Hilir in the next Quarter, the proximity of this discovery to infrastructure will enable quick development.
6 months later, OMV's drilling campaign in the Taranaki commences and both OXX and CUE will have prospects drilled. CUE's will be able to be developed quickly, not so sure about OXX's !

OXX will be participating in a couple of NWS wells but what are the farmout terms ? a 1% royalty and discovery payment on success may not take the share price far ...

Anyway, time will tell !!!

[JBmurc]

Agreed Comparisons seem a little pointless ... Any number of other companies are drilling in the near term !

As far as OXX/CUE - CUE has significant cash and income, OXX has little cash and no income

CUE will be appraising Mahakam Hilir in the next Quarter, the proximity of this discovery to infrastructure will enable quick development.
6 months later, OMV's drilling campaign in the Taranaki commences and both OXX and CUE will have prospects drilled. CUE's will be able to be developed quickly, not so sure about OXX's !

OXX will be participating in a couple of NWS wells but what are the farmout terms ? a 1% royalty and discovery payment on success may not take the share price far ...

Anyway, time will tell !!!

Yes it will OXX had not much under half their current market cap in cash at the end of sept...16mill etc to 37mill Mktcap

-Think your be surprised how much "Palta" will be worth to OXX if it's the 11TCF discovery they hope for esp if it has a good amount of liquids.... OXX has a OOR 1%(People say that 1% OOR equates to 7 – 10% interest). + they'll also 5mill payment on commercial discovery ...

as for the other two
-Winchester 25% free carried by Santos. 1.5 TCF.
-Makutu Prospect 35% free carried with OMV. 65 million barrels.

[ELYOB]

Stockanalysis again has given this another big write up today . Current valuation = 27c : estimated target value = 46c

The plot had been lost with management restricted to what they could do . So , hence the spill . There will be an announcement soon about = ???? and should clear the air ..... so till then this is not attractive = ziltch sentiment.

For those who can see , there is a 100% gain potential here ........ very cheap! @ 13c

[bung5]

they hinted in the presentation that they are close to announcing some sort of acquisition or farm-in to keep the activity up next year.
I sold out at 30c and even then I was in two minds about if it would go higher. At these prices now just seems like CUE on sale.

[gazprom1]

CUE is showing signs of life...recovery in last 4 weeks from low of 12.5 cents to current 16 cents (28% gain). Still well under water but helping ease the pain from a bath in MEO. Need to kick on and get some news and more traction.

Gaz

[bung5]

CUE is showing signs of life...recovery in last 4 weeks from low of 12.5 cents to current 16 cents (28% gain). Still well under water but helping ease the pain from a bath in MEO. Need to kick on and get some news and more traction.

Gaz

10% rise at the moment with no news... must be something going on

[soulman]

10% rise at the moment with no news... must be something going on

An announcement out RE: Farmout late in the day.

For me, it was TA and volume accumulation. I got a few at 14 a few days ago and 14.5 a day later. Reading the presentation also tells me CUE was pretty much undervalued with $38 mil cash in their latest presentation and a few execs buying.

[gazprom1]

An announcement out RE: Farmout late in the day.

For me, it was TA and volume accumulation. I got a few at 14 a few days ago and 14.5 a day later. Reading the presentation also tells me CUE was pretty much undervalued with $38 mil cash in their latest presentation and a few execs buying.

Interesting SM that that announcement was not disclosed y'day as it was already in the market via CUE's JV partners....

[soulman]

I don't think the announcement matters. Maybe traders switching from MEO to CUE.

[troyvdh]

I do find it somewhat amusing ....in previous stock picking comps (both AU and NZ) Cue featured fairly frequently....now virtually nix...it is acknowledged that two significant management departures in recent times are of concern...but am i correct in thinking there have been no substantial changes in shareholdings....and am i correct in stating that the trading volumes have been fairly low...
...yes it may appear that this post is a feeble attempt to ramp...apologies...
....hold 131000.....cheers troy

[soulman]

I do find it somewhat amusing ....in previous stock picking comps (both AU and NZ) Cue featured fairly frequently....now virtually nix...it is acknowledged that two significant management departures in recent times are of concern...but am i correct in thinking there have been no substantial changes in shareholdings....and am i correct in stating that the trading volumes have been fairly low...
...yes it may appear that this post is a feeble attempt to ramp...apologies...
....hold 131000.....cheers troy

I am with you troy. I have dig myself pretty deep with CUE. Just the fact 2 major shareholder have significant stake in them, cash, and no debt. Just got into them recently. Also have put my hand up on TAP.

The downfall on ROC and HZN is no suprise. Just waiting for the money to get into CUE and TAP.

[ELYOB]

We have no wisdom when or if the cue will arrive . Now , the whole ASX is pure crap on the patch . A big analyst who suports CUE , is forcasting a crap out on the markets Q1 2013 , then good buying for the solid bargain stocks . Is this way it is going to be ? Every which way , The cue will be in the fullness of the time appropriate .

Hold 500,000 CUE , and will stay forever ! The market will sort itself , and always comes around . For now .... zzzzz !

[digger]

I also hold Cue and my take is that Cue,s is suffering from its duster drills. The market does not like that and always puts the stock well down when that happenes.Down a bit too far but that is the market and is what make this investing interesting. Only God knows what next year my bring and it will surely have nothing to do with compition picks.

[soulman]

I also hold Cue and my take is that Cue,s is suffering from its duster drills. The market does not like that and always puts the stock well down when that happenes.Down a bit too far but that is the market and is what make this investing interesting. Only God knows what next year my bring and it will surely have nothing to do with compition picks.

With cash of $38 mil and no debt, the downside should be limited. Hopefully.

[troyvdh]

thanks for the feedback...am I alone in saying that discussing money/shares etc is very diffilcult with folk we know....personally I work in a large institution....as a nurse for the canterbury health board....of all the folk i work with there is only one who is kind "off interested"...in shares et.....anyways hope you all enjoy this period of reckless retail madness....and remain in good health for many years to come....cheers troy

[STRAT]

thanks for the feedback...am I alone in saying that discussing money/shares etc is very diffilcult with folk we know....personally I work in a large institution....as a nurse for the canterbury health board....of all the folk i work with there is only one who is kind "off interested"...in shares et.....anyways hope you all enjoy this period of reckless retail madness....and remain in good health for many years to come....cheers troyHi Troy.
Think thats true for most of us and why the get togethers were such a success. When I do well and tell I get asked for hot tips and when I dont do well and tell I get "told you so" Usually from the same folk.

[ELYOB]

One could be forgiven to be asleep at the wheel with CUE . Now, with a current estimate of 42m dollars in the bank , CUE could join or t/o some juicy small spec on market at little cost ie: $2-5m

A patch writer o/s thinks 2013 will see M&A activity increase as opportunities are much easier and advanced than doing the hard yards ....on the patch.

It is just when it all seems dead , it can all change and game on ........

Conclusion is easy if you have the money to sit . 15c is a very attractive deal for even 12 months . One could even afford to use the credit card , just change the card to another bank and get zero interest rate for 6 months . Dont think the T+3 daytraders are in the line up.

[troyvdh]

Gee 12.5 aint pretty but to the best of my knowledge none of the major shareholders have bailed.....a rise to 15 at least could be attractive....I am indeed somewhat forlorn...albiet very briefly....cheers

[soulman]

A bit of interest in CUE the last 2 days with volume churning through and demand on the buy side.

[ELYOB]

CUE have now reorganised the management. It looks like they can get on with doing something . They have got the cue from the market , this is last chance or shareholders will take action as we are not going to put up with non performance !

I am a large shareholder ..... by Xmas I wont be patient !

[macduffy]

In that case you'll need to be larger than Todds and Singapore Pet. They're dictating the pace at present.

Disc: Havn't held CUE for years, but still interested!

:cool:

[bung5]

You better give some serious thought to buying:)

I picked up a small holding of 22 000 at 18 cents on the NZX recently.

Check out the Ascending Channel :cool:
4417

Yes CUE have an exciting 6 months coming up. Things could start to look really good .. wouldn't be surprised to see SP around 30c by the end of year

[ELYOB]

Well team .... anyone got a c(l)ue ? I loaded up some more tax sell time shares at 11.5c

What will the new boy have to say in Qtrly ..... " I have asked the board to ... make a decision before they all die off "

The silence is deafening as they say ...

hold 950k<x<1m clue

[troyvdh]

No clue really...major holders still remain...I believe.....be good if they bought a few i.e. Todd et al....cheers

hold 120000

[troyvdh]

Cue at 15.....that's nice.....

[ELYOB]

Another full write-up in Stockanalysis yesterday . All good stuff . Core value 29c ; Target 43c . Trading 15c .

Kalimantan is worth notice . There is gas ! BUT this has upside in the deeps. It is a good story from most angles .

CUE has the reward, not many offer , of 100% gain without the downside ....

[Corporate]

Maari out of action until December!

[ELYOB]

Maari down with loss of 50mbblo production , easily made up by FY end . What is important is the exploration ; development now for the future. Maari down is good as the fix can be done all same time rather than staggered basis.

[ELYOB]

Been some talk around in Perth .... so thought a comment . Buzz is get into CUE this week , sit for the up coming drills . With the ASX sentiment dead , the talk points to advantages CUE offers with Cash; current production ; core value ; conservative mgt; and mainly exploration about to run with 8 wells !!!! This talk has started since GIU O&G Conf. in Fremantle , and it is gaining in influential brokers . Kalimantan drilling is said to be the up coming catalyst , and this is due to start in next 3 weeks . The talk is the buzz , so carefully consider your own situation and research independently. I have a interest in CUE of size , don't mean to promote or ramp the stock but only the talk is real and after waiting loooongtime for a change , something seems about to happen . Hold >1m shares

[bung5]

Cue struck gas?

[blockhead]

Cue struck gas?



Question or statement ???

[macduffy]

Cue struck gas?

Not yet, it seems.

http://www.asx.com.au/asxpdf/20130927/pdf/42jnbw7bkv8l1d.pdf

[STRAT]

This thread is now 6 years old.
6 years ago. 22c
Today. 13.5c

Bought sums it up I reckon.

Tradeable I will admit but not much else that I can see.

[Logen Ninefingers]

CUE's up today....we should be getting down to the nub of the matter on the 2 drills soon.

[clifton]

These are relatively low risk wells (for the oil industry) as close to pre existing discoveries or evaluating discoveries already made (one of the outcomes for the Indonesian well). More downside risk than upside.

[bung5]

These are relatively low risk wells (for the oil industry) as close to pre existing discoveries or evaluating discoveries already made (one of the outcomes for the Indonesian well). More downside risk than upside.

The Indonesian well should have big upside. When they first drilled it and it was flaring and thought to be a successful well the SP went up from around 22c to 31c . Cue's interest 40% but with the Indonesian governments take quite high is probably realistic to a 20% interest in a NZ or AUS well.

[psychic]

Something up with CUE?

Edit: Apparently not. Back to the slow drift down. Uggh

[troyvdh]

Volumn is building.Just saying is all.
Hold120k

[PLYNCH]

I see they CUE are no longer listed in New Zealand.

[p2r]

Annual report posted, no movement...notice zeta wants a directorship and SP goes up 5% against the tide!

[bung5]

Annual report posted, no movement...notice zeta wants a directorship and SP goes up 5% against the tide!

looks like zeta were making a hint at a merger or asset purchase with NZO or PPP

[troyvdh]

Thus far the "market" thinks that 10 cents is to cheap....good.

[Moosie]

Thus far the "market" thinks that 10 cents is to cheap....good.

Agreed, some may be able to get a better deal on market than 10 cents. Every increment upwards is 5%, so not insignificant. However, I'd definitely be looking to bail niw that NZO is taking over; wealth destruction entity at its best!

[troyvdh]

Moosie ...I have just tried to send a PVTE message through...but unable to ...is that Banned thingy an issue ...cheers

[skid]

Moosie ...I have just tried to send a PVTE message through...but unable to ...is that Banned thingy an issue ...cheers
Yes the banned thingy is an issue--apparently Moosie got banned for coming back under his original name while his previous was banned----Ya gotta laugh...

[Bella52]

http://www.stuff.co.nz/environment/66524920/oil-spill-off-taranaki-coast

[babymonster]

like the letter from the board... big black "REJECT"

[troyvdh]

Todays announcement ...should we feel emboldened or what....cheers troy

[Bella52]

emboldened because the valuation of virtually nil for corporate overhead when they run at something like $10m per year!! typical grant samual report, my guess if they couldn't finish it last week because the answer was wrong for cue management and board

[troyvdh]

Finally...its taken a while.

[troyvdh]

Just thinking...Mr Buffett said (amongst other things) the time to buy was when "there was blood on the streets".....just saying is all

[Antman4]

I would like to understand the intentions of NZO regarding their shareholding in CUE. Sitting at 48% is not a long term play from my perspective and feel it inevitable that this will change in the short to medium term...

CUE is a unique company for its market capitalisation; it has a collection of decent and valuable producing and prospective assets, generates operating cash flow, and is cash positive. There is value in this company and a unification of small shareholders (who constitute ~35% of the voting shares) will help to ensure that the company's assets are protected and value accrues directly to shareholders of the company.

The current CUE Board is weighted with NZO nominations and I do not have confidence that all decisions are in the best interests of all shareholders. I do not believe that NZO will want to see a deterioration to CUE's capitalised value, but do not feel adequately assured that future actions of this key shareholder will not be to the detriment of other shareholders.

I recently received a copy of CUE's share register after paying the A$250 fee. I plan to contact the top 150 shareholders for the following purpose:
1. Canvass views on corporate governance under the current ownership and Board structure, &
2. Seek cooperation for voting on CUE shareholder resolutions and any other actions put to shareholders by related or third parties.

I am an individual investor and without capacity, directly or indirectly, or intention, to use contact with shareholders for any corporate action or unlawful purpose. My intention is to unify shareholders and ensure that smaller shareholders may have a collective voice that the Board and the controlling shareholders will respect.

If you hold greater than 150,000 shares, you can expect to be contacted by me shortly in respect of the above. I will contact more shareholders if the share registry will release email addresses to me, although that request has initially been denied...

If you otherwise wish to make contact with me, please do so by emailing cueshareholder@bigpond.com with your holding name and the number of shares held, so that I may add you to a communications database.

Thank you,
Anthony Alembakis CPA
cueshareholder@bigpond.com

[troyvdh]

Dear Ant..I for one applaud and greatly appreciate your efforts...perhaps on this forum or privately you may wish to report back as to how things are progressing...again thankyou cheers troy

[Antman4]

Update; 2% of voting capital on board just through social media initiative. Thanks for the emails to date.

Looking to send shareholder letter within 2 weeks. Currently drafting letter and working through share register for duplicates, etc.

Will need to cut first mailing to 200k+ holders. Computershare refused to provide email addresses; archaic laws within a digital age, I suggest.

Interesting facts: high proportion of holders are NZ based. Fugro came on board during last year and presume this was after maturing the Ironbark prospect in WA for farm out?

Anthony
cueshareholder@bigpond.com

[karlos68]

Bought some of these on NZX back in 2012 and wish to get rid of what little amount they are worth.
As they were delisted and can only be sold on ASX, I rang ASB Securities and they said I need a SRN Number from the Share Registry for them to sell.
Tried ringing Computer Share but on hold for ages so gave up. Tried submitting Online Form but application would not accept CUE as company listed on NZX.

Anyone know the process to sell?

[BWH]

I am in the same situation. I had thought I would offload my small holding a couple of years ago and ASB Sec online trading wouldn't recognise my holding. I contacted them by email and explained the situation and they said it was between me and Computershare. I eventually got hold of someone at CS and they said they couldn't help me! Eventually ASB got the new holder number for me after much pestering and I think they may have even charged me for the privilege! Unfortunately I can't now find those e-mails.
In the meantime I decided to chuck the shares in the bottom drawer and hope someone would offer to buy me out. Still waiting...

[freddagg]

I am in the same situation. I had thought I would offload my small holding a couple of years ago and ASB Sec online trading wouldn't recognise my holding. I contacted them by email and explained the situation and they said it was between me and Computershare. I eventually got hold of someone at CS and they said they couldn't help me! Eventually ASB got the new holder number for me after much pestering and I think they may have even charged me for the privilege! Unfortunately I can't now find those e-mails.
In the meantime I decided to chuck the shares in the bottom drawer and hope someone would offer to buy me out. Still waiting...

You have been bought out,by Zeta.
You likely own Zeta share now.
https://www.asx.com.au/asxpdf/20171107/pdf/43p178htg1t7nt.pdf

[fish]

You have been bought out,by Zeta.
You likely own Zeta share now.
https://www.asx.com.au/asxpdf/20171107/pdf/43p178htg1t7nt.pdf

I think you are getting mixed up with PPP.
Owners of PPP who did not elect to be bought out were allocated shares.
From memory NZO have substantial CUE holdings

[BWH]

Not that I'm aware of. Like Fish said, I think you're referring to PPP.
NZO do have a substantial holding in CUE. They can have mine too if they want them!

[freddagg]

Yep sorry, brain in neutral

[Joshuatree]

New 5 year s/p high.Building cash reserves making great profits and Ironbark to come. Download Document 1.73MB (https://hotcopper.com.au/documentembed?id=uOMxKKzFkiWRTLKhOROKAxjvSTYP4A%2B 9yRaZo%2BJ8ke92GA%3D%3D)

[JBmurc]

New 5 year s/p high.Building cash reserves making great profits and Ironbark to come. Download Document 1.73MB (https://hotcopper.com.au/documentembed?id=uOMxKKzFkiWRTLKhOROKAxjvSTYP4A%2B 9yRaZo%2BJ8ke92GA%3D%3D)

Yes as to why CUE is my Largest Holding if PB-1 is a success and the JV partner lets us in on the results then we should trend towards 20c pretty quick with Ironbark a 10x bagger potential in the pipeline .... CUE looks a very safe BUY and hold .. and very likely to see 50% return pre Ironbark results

[JBmurc]

Melbourne, Australia 10 January 2020: Cue Energy Resources Limited (the Company)
advises that though its 100% subsidiary, Cue Mahato Pty Ltd (Cue), it has been informed by
the Operator of the Mahato PSC, Texcal Mahato EP Ltd, that the PB-2 well has been drilled.

Cue is not receiving information from the Operator as required under the Joint Operating
Agreement and is evaluating all available options to address this and other breaches under
this agreement.
The Company will keep the market informed of any material developments on this matter,
subject to any Indonesian regulatory requirements.

[Waiuta]

I bought CUE in 2009 at 25c after much research and have hadmy finger's crossed ever since. I'd have to say pride has been the only thing that prevented me from selling. I did however top-up last year at 11.5c so my small holding of 50000 owes me 16.9cps. I have just about got my head above water on this one.

[whatsup]

Could there be an upgrade today ?

[mistaTea]

Could there be an upgrade today ?

What makes you think there might be an upgrade?

[whatsup]

What makes you think there might be an upgrade?

opps sorry , of news !

[Joshuatree]

Right on CUE what sup :t_up:

MAHATO EXPLORATION WELL UPDATE (https://www.nzx.com/announcements/346982)

[whatsup]

Right on CUE what sup :t_up:

MAHATO EXPLORATION WELL UPDATE (https://www.nzx.com/announcements/346982)

I was meaning an news upgrade from the drilling as the results have not been released from/by the operator .

[Lion]

Disturbing news on Bloomberg about the possibility of an LNG price war similar to the current oil situation.


"(Qatar), the world’s biggest exporter of liquefied natural gas may soon face a stark choice: curb output or ignite a battle for market share that has the potential -- just as in the oil market -- to turn gas prices negative."

[Lion]

https://www.bp.com/en_au/australia/home/who-we-are/exploring.html

Interesting new info on BP's website. It seems they are pretty positive about Carnarvon Basin and Ironbark.
Seems they could be drilling in 3 months, for the "drill of a lifetime" Woohoo!
(Thanks, mT)

[STRAT]

Cue holds a significant 21.5% participating interest in the world class Ironbark gas prospect, which, if successful, could be company changing for Cue and deliver environmental and economic benefits to Australia and the region.”

Something "Company changing" is way over due eh? What do ya reckon Shrewd Dude?

[troyvdh]

About time,,I hate to think how long ago I first invested...Cheers all.

[Crypto Crude]

Cue holds a significant 21.5% participating interest in the world class Ironbark gas prospect, which, if successful, could be company changing for Cue and deliver environmental and economic benefits to Australia and the region.”

Something "Company changing" is way over due eh? What do ya reckon Shrewd Dude?



Hey buddy,
I havnt looked at stocks in ages... but yeah real sexy man...