CUE-> Pantheon of small oil stocks

[Waiuta]

Starting to get some traction now.

[airedale]

Up nearly 50% in the last week.

[whatsup]

Up nearly 50% in the last week.

Airedale, thanks for the heads up one exciting prospect this one which I wrote earlier this year and better than even odds that it will be a biggee, great chat on H C now that they are nearing target zone,

[whatsup]

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?



Cue, Could be at T D this week with a expected T H and exciting company changing news, not too late to get on board imo.

[wizAlvin]

53 competition entries - still time for the 2021 competition - go cue

[JBmurc]

Purchased a few CUE @ 6.4c personal think its got to be one of the most undervalued O&G plays on the ASX ...

AUD Oil price close to $90bbl

CUE production profile should hit even higher levels this Qtr

If only CUE mgmt gave a rats ass about the SP ... last analyst report 2015!!! last Presentation OCT 2020

If CUE was put in a chart Vs peers the picture would be clear to how undervalued CUE is

[Wiremu]

Both NZO and Cue have released notices of a trading halt relating to a potential acquisition.

Interesting after a long period of almost complete silence from them both.

[JBmurc]

Great Buying here EOFY "tax loss selling" surely CUE will do a Presentation/ Hartley analyst report>> once the new purchased producing NT Aussie Gas JV is signed and approved by S/H's>>>

I've been Buying a good few up now to around 12th-13th largest Shareholder ... selling must surely dry up going into JULY >> .. I see morningstar analyst gives 9.9c fair value >> so 33%+ discount

[digger]

Great Buying here EOFY "tax loss selling" surely CUE will do a Presentation/ Hartley analyst report>> once the new purchased producing NT Aussie Gas JV is signed and approved by S/H's>>>

I've been Buying a good few up now to around 12th-13th largest Shareholder ... selling must surely dry up going into JULY >> .. I see morningstar analyst gives 9.9c fair value >> so 33%+ discount

Hi JBmurc,

I have also bought 2 million in may/june to more than double my total. Did so for much the same reasons many have already outlined here. Mostly tax selling and Oil or gas is in the hated sector for investment.Time and I believe a very short time will show that the ICE is far from dead regardless of the dreaming greenies.
In fact it is a thing of mine that with an investment much smaller than what has been poured in renewables the ICE should have been made more efficent.

Anyways we will shortly see how this pans out. I am certainly very hopeful.

[digger]

[QUOTE=JBmurc;892029]Great Buying here EOFY "tax loss selling" surely CUE will do a Presentation/ Hartley analyst report>> once the new purchased p

[JBmurc]

Hi JBmurc,

I have also bought 2 million in may/june to more than double my total. Did so for much the same reasons many have already outlined here. Mostly tax selling and Oil or gas is in the hated sector for investment.Time and I believe a very short time will show that the ICE is far from dead regardless of the dreaming greenies.
In fact it is a thing of mine that with an investment much smaller than what has been poured in renewables the ICE should have been made more efficent.

Anyways we will shortly see how this pans out. I am certainly very hopeful.

Yes great minds think alike >>> I'm surprised more haven't been like us ... only need to look at the last 12 months of trading I'd say very few Buyers of CUE 20/21 would have been sitting on a profit ... but many hundreds will have losses ... us TAX paying traders all look to reduce TAX in Good trading years ... I've done it Sold to book the loss EOFY(MARCH) then re-purchased the same shares weeks later .... the same will happen with CUE ... JULY we will trade many cents higher

[JBmurc]

Hi JBmurc,

I have also bought 2 million in may/june to more than double my total. Did so for much the same reasons many have already outlined here. Mostly tax selling and Oil or gas is in the hated sector for investment.Time and I believe a very short time will show that the ICE is far from dead regardless of the dreaming greenies.
In fact it is a thing of mine that with an investment much smaller than what has been poured in renewables the ICE should have been made more efficent.

Anyways we will shortly see how this pans out. I am certainly very hopeful.

Yes great minds think alike >>> I'm surprised more haven't been like us ... only need to look at the last 12 months of trading I'd say very few Buyers of CUE 20/21 would have been sitting on a profit ... but many hundreds will have losses ... us TAX paying traders all look to reduce TAX in Good trading years ... I've done it Sold to book the loss EOFY(MARCH) then re-purchased the same shares weeks later .... the same will happen with CUE ... JULY we will trade many cents higher

[JBmurc]

12707


Looking forward to getting an update on many of CUE ongoing operational updates we are waiting on >>

[JBmurc]

Mr Samter said the US oil and gas sector was in a similar situation in the third quarter last year, when share prices were all down 20-30 per cent as oil prices started to rise before the market suddenly woke up to the changing macro environment. Since then, ExxonMobil has doubled off its lows, while Occidental has more than trebled.
“For me, the reality is that the sector will play catch-up and then continue to thrive as we enter a highly attractive period for investing in energy stocks,” he said.

https://www.copyright link/companies/energy/energy-stocks-disconnect-gets-crazy-20210702-p5868z


AUD oil $100bbl

[JBmurc]

I'd say JUNE Qty has had higher than usual admin/corp costs associated with
"AUS ASSET ACQUISITION" ...Along with final Ironbark payments...Mgmt pay is around 700k pa>>> so not much of the revenue left over to go to the bottomline sadly but I'm sure thats going change next Qty onwards as so many millions of Production during the Qty was paid after JUNE>>

I think big positives for CUE is going forward >>>>going from JUNE Qty

approximately $1 million from March and April oil sales in the Mahato PSC when production was approximately 1600 bopd. Revenues from Mahato are received approximately 6 weeks after the end of the production month.....

I worked out 245Bopd av. If spread over Qty ...as stated start of JULY CUE Net 405bopd so one would think over this Qty we are going see much higher cashflows Vs Production costs..

the real Kicker I like from "Mahato"

The unperforated reservoirs in all wells are candidates for future production. Results of the 5 wells drilled to date indicate further development potential in the field, which is currently under review. The Operator has indicated the potential for further development wells to be drilled during the second half of the 2021 calendar year.???

On the 17 July 2021, the PBE-1 interfield well commenced in the PB field. The well is targeting a structure to the east of the existing PB field which, if successful, could be a standalone discovery or part of a larger PB field. The well is expected to take up to 4 weeks to drill. 3 further development wells are being planned for the PB field in the coming months...

So we are presently at or above 405bopd net to CUE but after reading the above from the Qty I think we can all agree the upside is substantial ...

NZ maari ...adding another 265bopd ---$2.3 million in revenue from a Maari lifting during the quarter was received in July and will be reported in the current quarter.....

Another thing I picked up in Qty looking again (amazing how much one can miss on first pass)

New Aus Gas assets>

effective economic date of 1 July 2020. Completion is expected in the current quarter and the economic value shown in the table($1.9millAUD) will be included to Cue as an adjustment to the completion payment.

Acquisition cost of A$8.7m upfront less $1.9mill = $6.8mill .....pretty good buying when CUE should be reaping in 1.9Mill++ for many Qtys to come and nil operation concerns as managed by CTP >>all the hardwork has been done !! pipelines sales contracts in place...

-55x Gas wells in production>>>
-7 infill wells drilled or to be drilled in the near term>>
-2x Large Exploration recoverable targets = 192Pj.!!!! (145 PJ Annual consumption for Adelaide, Brisbane and Sydney STTM hubs)

[Waiuta]

CUE would have to be treading water with the noose of NZO around it. I wonder if the directors have ever considered the rank and file shareholders and considered a divvy? Surely that would impact the SP.

[JBmurc]

CUE would have to be treading water with the noose of NZO around it. I wonder if the directors have ever considered the rank and file shareholders and considered a divvy? Surely that would impact the SP.

Unlikely on the Divi front going from my last conversation with the MD >> More likely we see another offer from NZO 10c last time ....AUD oil $105bbl , high Gas prices ..maybe they will come again 12c etc .... would be cheap at that to take total control

[Waiuta]

Some interesting theories on HC re future. Just have to be patient.

[Waiuta]

Getting some traction now, production increasing and oil up. Quarterlies due any day. Take Over???

[Sideshow Bob]

Getting some traction now, production increasing and oil up. Quarterlies due any day. Take Over???

Takeover? Nah why would OG bother when they own 68% of NZO which then owns >50% of CUE?

[NZSilver]

Bought some of these today, based on value current pe 3-4...

[NZSilver]

Is anyone else holding? This is my way of getting exposure to the current oil price environment.

[Joshuatree]

Indirectly thru NZO. Sanctions on Russia are a turbo charge on a sure to rise oil price for some time yet.

[Lion]

Is anyone else holding? This is my way of getting exposure to the current oil price environment.

Yep, I've been holding these for 5 years. I've topped up twice this month. I sold some NZO to buy CUE just 2 days ago. I think CUE has huge potential and can't understand why its SP is not much higher. Good luck Silver!

[JBmurc]

Yep, I've been holding these for 5 years. I've topped up twice this month. I sold some NZO to buy CUE just 2 days ago. I think CUE has huge potential and can't understand why its SP is not much higher. Good luck Silver!

YES ..CUE is a STRONG BUY I've been buying more of late hit 2.3mill shares other day ...if the SP doesn't move above 10c I'll keep buying when funds become available.. a great diverse energy play thats trading on forward P/E -1-2 ... if Only NZO didn't have 50.4% control would have been on the shopping list of another O&G player

[NZSilver]

Can someone explain why today update for was PB09 was 5500bpd vs the earlier PB08 addition at 5600bpd. Shouldn't it be an increase rather than decrease/about the same.

[fish]

Can someone explain why today update for was PB09 was 5500bpd vs the earlier PB08 addition at 5600bpd. Shouldn't it be an increase rather than decrease/about the same.
4 more production wells to come from current program on the PB field .
Is the expectation for a total of around 8000 bpd equating to 1000bpd for Cue at just under Brent prices ?
Say $30m US pa
Amadeus is going well and Gas prices very high
Will they need to borrow for amadeus or is current production able to fund exploration and development?

[JBmurc]

Maybe natural decline in some early wells ..?

[JBmurc]

$10,300,000.00 in 3 months.

$858,333.33 a week.

$122,619.04 a day.

And this last Qty they didn't receive "Mahato" OIL income till APL ... so I'd expect 15mill EBIT income this Qty results due JUL

I'm adding to my position as I can't see this $35mill EV lasting for much longer ... 1mill+ Bid @ 7.5c waiting to be filled while there is still some FEAR in the marketplace ... (Will take me to a tidy 3.63mill shares)

[clearasmud]

Good on you! And good luck Mr Murc.

[JBmurc]

Good on you! And good luck Mr Murc.

Yeah thanks mate ...post I just did on HC fourm ...

Really BIG MID year period for CUE >>>the sleeper might just go for a run.. and with such tight scrip it will run fast if new Buyer's of size want on board >>

1 =Cue has agreed a term sheet for a $7 million loan from New Zealand Oil & Gas (NZOG) to support planned and future development and exploration activities and new ventures ?

+Good sized Loan when one thinks at the end of MAR Qty CUE had 12.8Mill and was going receive Millions more for Mahato Oil sales ..1-2mill during APL... and the fact CUE will be at present flowing with more cash Receipts prob now av around 1mill AUD per week >>

2=Progress on Paus Biru commercial agreements and approvals required prior to the joint venture making a Final Investment Decision (FID) continued with gas buyers and the Indonesian Government. These activities are expected to be complete by mid-2022

+ Nat Gas prices have tripled in many locations around the world ..one would think this would bode well for Paus Biru-The field is estimated to contain gross 2C contingent gas resources of 44.9 billion cubic feet (Bcf), as of February 2020. (15% CUE =6.74 BCF - worth 15mill+) Gas demand for power forecast to increase in Indonesia with increasing LNG imports required>>

3=Mahato operator is seeking government approval to continue development drilling, above the previously expected 4 more production wells, to further develop and increase production from the PB field. PB-10 is the next planned well and is expected to commence during JUNE Qty...

+ Mahato been a Massive success and with OIL at record highs more production must be a positive ..
4800 - 5000+ BOPD?
Cue Energy has significantly increased its reserves and resources estimate for the PB oilfield in the Mahato PSC, with a 322% increase in net 2P oil reserves to 1.4 million barrels (mmbbl) and an increase in 1P oil reserves to 1.1 mmbbl... (using 20% of the present AUD oil price - $31.50bbl x 1.1mill = $34Mill+ AUD)


4=Amadeus Basin-PALM VALLEY-12 ---early JUNE will reach target depth? (DINGO DEEP well to follow)

-new interval, the Pacoota-3, has been identified as a possible appraisal target that may be incorporated into the current PV12 Drilling program..
-Big Gas target total mean 30PJ net to CUEs interests =$300MILL++


---Disc buying more--
to many factors are lining up for CUE for me to sit on my hands ... so as you will see I have purchased more and have just over 1mill in the BID 7.5c ... hoping to be filled tomorrow >>> might just take me to the TOP10 S/H... Not much free-float shares @ CUE

5=cherry's on top >>> Jeruk new forward development plans ??? CUE still has finger in this large Oil Discovery>>

come across this interview with STO -MD at the time of Jeruk
https://www.santos.com/wp-content/uploads/2020/02/jeruk_discovery_open_briefing.pdf

[clearasmud]

I used to love oilers, subcribed to a weekly Australian oiler tip sheet, can't remember the name.
Made good money on NZO, CUE, NWE, Bow etc.
CUE to my surprise has issued very little scrip over the last 15 years.
I remember selling off my CUE in early 2009 as I was going through a separation for about 6c

[JBmurc]

I used to love oilers, subcribed to a weekly Australian oiler tip sheet, can't remember the name.
Made good money on NZO, CUE, NWE, Bow etc.
CUE to my surprise has issued very little scrip over the last 15 years.
I remember selling off my CUE in early 2009 as I was going through a separation for about 6c

Good time to get back on board >>well once I get my fill >>> LOL

[clearasmud]

Is that you offering 7.7?You're getting filled.

[JBmurc]

Is that you offering 7.7?You're getting filled.

Slowly but surely >> I started at 7.5c but was getting jumped >>

[clearasmud]

Similar thing happened to me today buying FYI at 17.5. Ain't budging yet.
But not buying 1,000000.

[JBmurc]

Similar thing happened to me today buying FYI at 17.5. Ain't budging yet.
But not buying 1,000000.

Yes I think the bottom is in for the ASX Resources sector ...a good breather that was needed before the next move higher ... was trying BUY -KWR today got half my order then the SP closed up 19% purely on bargain hunters ... I think tax loss selling has come early for many specs ...

[fish]

Similar thing happened to me today buying FYI at 17.5. Ain't budging yet.
But not buying 1,000000.
Suspect that is a typo .
I sold out of cue during the drill and thrill of Ironbark .
Bought more NZo after Ironbark failed and no longer see any reason to buy back into cue .
Ogog directs and managers both-exceedingly well by my perception (not always shared )
It appears to me that NZO provides services and now even a loan to CUE.
NZO has majority control so why buy CUE?

[troyvdh]

mmmmmmmmmm

[clearasmud]

Good point.

[JBmurc]

Suspect that is a typo .
I sold out of cue during the drill and thrill of Ironbark .
Bought more NZo after Ironbark failed and no longer see any reason to buy back into cue .
Ogog directs and managers both-exceedingly well by my perception (not always shared )
It appears to me that NZO provides services and now even a loan to CUE.
NZO has majority control so why buy CUE?

Yes OG Energy(branch of OG Global) makes up the same seats in both companies boards.. so yes any major decision's will be with OG approval ,,,

Why NZO wants to buy CUE ... well because its cheap they know the assets ..Vs peers .. but maybe they don't and are happy to see CUE increase in value as the market sees Cap gain upside with potential divie

[fish]

Yes OG Energy(branch of OG Global) makes up the same seats in both companies boards.. so yes any major decision's will be with OG approval ,,,

Why NZO wants to buy CUE ... well because its cheap they know the assets ..Vs peers .. but maybe they don't and are happy to see CUE increase in value as the market sees Cap gain upside with potential divie
My impression is that Eyal Ofer is content with what he has got and will not be buying CUE nor pay dividends .

[JBmurc]

My impression is that Eyal Ofer is content with what he has got and will not be buying CUE nor pay dividends .

And thats what we have seen since the lowball 10c offer from NZO years ago ... and you could be right ... CUE/NZO could continue to grow assets and income streams Energy prices aren't going far south ever IMHO well unless we see major Nuclear power plants rollout and maybe 10-15yrs time O&G prices might come under control and trend lower.. otherwise world population continue to grow 88mill pa and humans effect drives energy growth..

So CUE will continue to be a Growth stock fine by me.. $$1mill per week av income at present energy prices ..this should only go higher if OG Energy doesn't want any income from their investments ..fine thats just more re-investment in more Energy projects more growth in production from present projects ...

Maybe we will see a Merger .. pretty much the same mgmt same mix of assets Go look at NZO last presentation many asset they promote are held by CUE
...lets just have one main office ..one ASX listing ..one CASH PILE .. streamline admin drive exploration /Energy income developments

Re-name ... and put the goal forward to grow into a 500-1bill cap Oceania Energy player ... Oceania Energy ??

[JBmurc]

Dumbfounded at present thought there would be a few weak hands wanting to Dump CUE like they did last week with around 1.5mill shares dumped in the lows 7's ?
here I was offering to buy ...but nothing .... weak hands have exited last week ... Might need another 1000+ point fall on the DOW tonight ..Oil crash in price ,,

[nztx]

Dumbfounded at present thought there would be a few weak hands wanting to Dump CUE like they did last week with around 1.5mill shares dumped in the lows 7's ?
here I was offering to buy ...but nothing .... weak hands have exited last week ... Might need another 1000+ point fall on the DOW tonight ..Oil crash in price ,,


might have to join you in this party JB :)

[JBmurc]

might have to join you in this party JB :)

Yes depending on how much your after can take awhile .. pretty low free-float near on 80% of the shares are held by the TOP20 .. 50.4% of course is NZO holding

I paid upto 7.8c today to take me to 3.2mill ... which will do for now

[fish]

Yes depending on how much your after can take awhile .. pretty low free-float near on 80% of the shares are held by the TOP20 .. 50.4% of course is NZO holding

I paid upto 7.8c today to take me to 3.2mill ... which will do for now

This seems very cheap considering oil and gas prices.
My margin lending account is stretched so I cannot buy back in but may in the future .
I feel a lack of certainty where Cue is heading.
It makes sense for NZo to merge /takeover /etc with cue but no sign of this happening .
I feel there may be a problem here (have a strong impression Eyal Ofer has values and principals that minority cue shareholders do not understand -one of which it is an inter-generational family company with massive wealth )

[JBmurc]

Getting my head around PB Mahato OIL Field >>
Due to the success of the PB field, costs for the initial development of the field have now been recovered under the Production Sharing Contract (PSC) and a higher portion of production will be allocated to the Government of Indonesia.(I understand this means CUE gets to keep 50% of their interest share)

From last Qty
The operator is seeking government approval to continue development drilling, above the previously expected 4 more production wells, to further develop and increase production from the PB field. PB-10 is the next planned well and is expected to commence during the current quarter...

Lastest ann>>>
An additional 12x oil production wells will be drilled in the PB oil field, Mahato PSC, under a Field Development Optimisation (FDO) plan approved by SKKMigas, the Indonesian Regulator. The total number of approved production wells in the FDO is 20, with 3 water injection wells.

There are currently 8 oil production wells and 1 water injection well the field. The first development well in the current phase of drilling, PB-18* has commenced. Wells are expected to take approximately 1 month to drill and complete, so the current program is expected to take 12-14 months.


---So I wonder what happen to PB-10 ? ...so at present 8x Oil producers ...with a planned another 9x with 3x water injection wells in total planned..

1 January 2022 the successfully drilling of 8 production wells (PB-1 to PB-8) in 2021 with the field currently producing at approximately 5,500 barrels of oil per day (so 687bbl av. each well)

At the end of the March quarter PB field production was approximately 4,800 bopd from 8x oil wells and they drilled PB-9 during Qtr .... so I'm assuming PB1 production reduced and they used it as a water injection well = Enhanced Oil Recovery (EOR)

So if we use the last production per well numbers we see 600 bopd average ..

9x more oil producing wells = 5400 bopd (4800bopd first stage - natural reduction est 12.5% down to 4200bopd my rough est 9600bopd .... and I might be optimistic here so lets use 9000bopd)

9000bopd - CUE 12.5% interest -1125bopd - indo PSC 50% = 562bopd nett to CUE x A$170bbl======

My est==$95,540 per day from Mahato once all 17x wells are producing..or A$8.6mill per Qty

Of course we will see natural reduction going forward but still Great FCF for CUE ... need more of these projects ..As non of CUE Oil Production is hedged or under contract price but sold at spot prices..

Unlike the Gas which much is contracted for a period of time ..and will be another boost to CUE cashflows when some of these Gas contracts come up for renewal ...(I understand later this year some are)

[fish]

My est==$95,540 per day from Mahato once all 17x wells are producing..or A$8.6mill per Qty

Of course we will see natural reduction going forward but still Great FCF for CUE ... need more of these projects ..As non of CUE Oil Production is hedged or under contract price but sold at spot prices..

Unlike the Gas which much is contracted for a period of time ..and will be another boost to CUE cashflows when some of these Gas contracts come up for renewal ...(I understand later this year some are)[/QUOTE]

My understanding is that the gas contracts low fixed prices expire in 2023/2024 .
Looks like this could be timely.
Russia has just announced it is cutting gas supply to Germany by more than half .

[JBmurc]

My est==$95,540 per day from Mahato once all 17x wells are producing..or A$8.6mill per Qty

Of course we will see natural reduction going forward but still Great FCF for CUE ... need more of these projects ..As non of CUE Oil Production is hedged or under contract price but sold at spot prices..

Unlike the Gas which much is contracted for a period of time ..and will be another boost to CUE cashflows when some of these Gas contracts come up for renewal ...(I understand later this year some are)

My understanding is that the gas contracts low fixed prices expire in 2023/2024 .
Looks like this could be timely.
Russia has just announced it is cutting gas supply to Germany by more than half .[/QUOTE]

Yes along with more Gas Flows from NT Aus from new discoveries

[fish]

My understanding is that the gas contracts low fixed prices expire in 2023/2024 .
Looks like this could be timely.
Russia has just announced it is cutting gas supply to Germany by more than half .

Yes along with more Gas Flows from NT Aus from new discoveries[/QUOTE]

No doubt Russia is forcing up the price of gas
Australian domestic wholesale gas prices have increased from 5 to 40 in the last 2 years ($80 on the ghost market despite the government cap at 40 )
LNG prices not quite so much but still multiples
By my rough calculation the 20% of gas not on fixed contracts will be earning more than the 80 on the fixed contracts which will be expiring shortly .
Cue,NZo and central petroleum sell their gas as a bundle together to save costs and get better prices-improved netback for all .The pipelines enable them to send gas to the highest bidder (‘bad weather on the east coast and coal generation unreliable means really high need for gas there-will the government intervene to stop lpg exports ? )

[JBmurc]

Cash receipts of $14.5 million were 41% higher than the previous quarter, in part resulting from a
larger than expected Maari oil sale in May which benefited from high oil prices, increased receipts
from short-term Australian gas sales and $0.9m in delayed Mahato receipts from last quarter which
Cue received this quarter.
Daily sales of uncontracted spot gas from the Mereenie joint venture linked to East Coast trading
hubs, including Brisbane and Sydney Short Term Trading Markets (STTMs), received prices up to
$40/GJ. Approximately 15% of Cue’s Mereenie production is sold into the short-term market daily.
The average price received for all oil sales during the quarter was A$148.6/bbl.
As announced on 24 June 2022, Cue executed an agreement with New Zealand Oil & Gas for a
$7.0 million loan to support Cue’s existing exploration and development activities and ensure
sufficient working capital remains available during expected periods of high expenditure in the near
term.
Cash balance at the end of the quarter increased to $23.2 million, including $7.0m in loans, an
increase of $9.4 million from the previous quarter.....

>>> well what we expected .. strong cashflows... 2.4mill net profit from operations ..16.2mill in cash at the bank 7mill loan from NZO

---Outlook

Amadeus Basin(who knows costs here when the deep drills getting deferred)

The PV-12 exploration well is currently being drilled. As previously announced on 11 May
2022, Central Petroleum (CTP), the operator of Cue’s Amadeus Basin assets, forecast $3.1
million in additional costs for the PV-12 and Dingo-5 wells to 30 April 2022. Since then, drilling
of PV-12 has been slower than expected which could result in further cost increases. As part
of the sale and purchase agreement with CTP, Cue is obligated to pay CTP’s share of certain
exploration and development costs up to a $12 million cap.

Cue’s commitment, including the CTP carry, for the remaining expected cost for this drilling
program is currently estimated as $12.2 million.
In the Mereenie field, the joint venture is considering 6 well workovers and 2 infill wells during
FY2023.

Mahato PSC

Fourteen more wells are planned to be drilled in the PB oilfield over the next 12-14 months,
with extra processing facilities also being constructed. Twelve of these are oil production wells
which are expected to deliver revenue, however the timing of costs and revenue is a
consideration of this financing. Cue’s estimated expenditure commitment for this phase of
development is approximately $13 million.
Sampang PSC

The Paus Biru Final Investment Decision (FID) is expected to be made by the Joint Venture
in the coming months, with development expenditure, if and when approved, expected to be
incurred over the following 24 months before first gas production. Cue’s estimated share of
Paus Biru development funding is approximately $15 million.

[Joshuatree]

Thanks . Ive punted into 3 or 4 small oilers now in a small way for the still great value down here, they havnt run yet like the big uns.Most of my money is in big guns like Woodside. I believe the oil price is going to hold up for years( with the usual up and down volatility) and that these little guys have alot more upside to come when the mkt finally realises its higher, for longer ,albeit with more risk down here. DYOR not advice.

[JBmurc]

I'm now at a point with CUE ....I'll be happy to take 10c in a NZO or OG energy T/O ... I just don't think the ASX market cares much at all about the NZO/CUE doesn't really matter what they announce now with their projects with the larger deep Gas targets in NT Aus out of the picture till some time well into the future..

its taken away a major kicker had we seen success as both NZO/CUE prospective Gas resource would have more than doubled CUE's net BOE in NT Aussie some 3MMboe (@$10bbl that 30mill AUD value!!)

Still I'd rather be in CUE than pretty much most Non energy stocks.. Energy Cliff is coming and will see new record high energy costs many bankruptcies to come

[fish]

I'm now at a point with CUE ....I'll be happy to take 10c in a NZO or OG energy T/O ... I just don't think the ASX market cares much at all about the NZO/CUE doesn't really matter what they announce now with their projects with the larger deep Gas targets in NT Aus out of the picture till some time well into the future..

its taken away a major kicker had we seen success as both NZO/CUE prospective Gas resource would have more than doubled CUE's net BOE in NT Aussie some 3MMboe (@$10bbl that 30mill AUD value!!)

Still I'd rather be in CUE than pretty much most Non energy stocks.. Energy Cliff is coming and will see new record high energy costs many bankruptcies to come

I am more sure natural gas prices will have sustained highs than oil.
Also indicated by the futures market.
OGOG have said they are not going to make anymore takeover offers so I think you are not going to get the takeover offer.
I have told you this before

[JBmurc]

I am more sure natural gas prices will have sustained highs than oil.
Also indicated by the futures market.
OGOG have said they are not going to make anymore takeover offers so I think you are not going to get the takeover offer.
I have told you this before

I agree hindsight I was wrong thinking much higher O&G prices would see some action so looking like you right OG happy to sit on their hands ....for how long I do wonder the point holding 70% of NZO ?? and NZO holding 50.04% CUE.. I guess it's more so stop anyone else making a move..

[fish]

I agree hindsight I was wrong thinking much higher O&G prices would see some action so looking like you right OG happy to sit on their hands ....for how long I do wonder the point holding 70% of NZO ?? and NZO holding 50.04% CUE.. I guess it's more so stop anyone else making a move..
NZO have looked into the possibility of both a cash buy for cue or for nzo shares and hold the belief that insufficient major shareholders of cue will sell out .
I guess if the major shareholders of cue have no need to sell and believe cue is a valuable asset an impasse has been reached.

[JBmurc]

NZO have looked into the possibility of both a cash buy for cue or for nzo shares and hold the belief that insufficient major shareholders of cue will sell out .
I guess if the major shareholders of cue have no need to sell and believe cue is a valuable asset an impasse has been reached.

they should try again JAN 2015 long time ago ..https://www.odt.co.nz/business/nzog-buys-cue-takeover-expected-later

I'm sure if NZO came back with a decent offer they would get to the important 75% ... then force a delisting of CUE put a time limit for the rest of the stubborn holders dreaming of higher return then I'm sure within the timeframe NZO would get to 90.1% and take full control ...

Then OG could (and should have) done the same with NZO ...then OG Energy could add all the CUE/NZO assets along with their Otway Gas interests and save 10mill+ in admin costs pa..not have to deal with the ASX/NZX or shareholders..



>ASX has released a draft guidance note on removing entities from the ASX official list.

A vote of minority shareholders may be required in some circumstances within 12 months of a takeover bid or if the delisting is intended to avoid the application of a listing rule.

No vote would be required if a delisting intention is disclosed in a bidder’s statement, the bidder controls at least 75% and other conditions are met.
Towards the end of a takeover bid, attention frequently turns to what a bidder can do if it gains control over a target but fails to achieve a 90% compulsory acquisition threshold.

[fish]

they should try again JAN 2015 long time ago ..https://www.odt.co.nz/business/nzog-buys-cue-takeover-expected-later

I'm sure if NZO came back with a decent offer they would get to the important 75% ... then force a delisting of CUE put a time limit for the rest of the stubborn holders dreaming of higher return then I'm sure within the timeframe NZO would get to 90.1% and take full control ...

Then OG could (and should have) done the same with NZO ...then OG Energy could add all the CUE/NZO assets along with their Otway Gas interests and save 10mill+ in admin costs pa..not have to deal with the ASX/NZX or shareholders..



>ASX has released a draft guidance note on removing entities from the ASX official list.

A vote of minority shareholders may be required in some circumstances within 12 months of a takeover bid or if the delisting is intended to avoid the application of a listing rule.

No vote would be required if a delisting intention is disclosed in a bidder’s statement, the bidder controls at least 75% and other conditions are met.
Towards the end of a takeover bid, attention frequently turns to what a bidder can do if it gains control over a target but fails to achieve a 90% compulsory acquisition threshold.

My impression of ogog is that they are not that kind of player.

[JBmurc]

My impression of ogog is that they are not that kind of player.

Well they should have been then all would have been better off than present disdain the market gives to the two companies

[fish]

Well they should have been then all would have been better off than present disdain the market gives to the two companies

Market perception is not what ogog are about.
Just wait for the dividends-ogog are financially prudent but do not leave money idle.
With current and futures natural gas prices and legacy contracts expiring expect to see a massive increase in income and dividends quickly following.
We will then also see the sp more than double-estimate 2 years if the market fails to anticipate before

[JBmurc]

Market perception is not what ogog are about.
Just wait for the dividends-ogog are financially prudent but do not leave money idle.
With current and futures natural gas prices and legacy contracts expiring expect to see a massive increase in income and dividends quickly following.
We will then also see the sp more than double-estimate 2 years if the market fails to anticipate before

I would love to see CUE move towards a solid Yield return to S/H's 5%+pa .... but last time I talked with "Matt Boyall" the focus was in funding the many projects CAPEX/OPEX demands which were looking so high as to having to borrow 7mill off NZO .. "Paus Biru" if going ahead will take up to 2yrs to see any cashflows.

--Jeruk could well be another drain on funds if the JV decide to take it to development stage..

Yes new Gas contracts will add more to the bottomline ... But I wouldn't be surprised if the excess funds aren't just funnelled back into further development costs ...farm ins etc... also both CUE/NZO have a history of sitting on cash ... why would this change?

You seem pretty confident in OG Have you spoken with OGOG directors ? what makes you think they will want NZO/CUE to start to pay Dividends they have been holding controlling stake in NZO for some 5yrs zero talk of becoming a Dividend player..as I explained they could quite easily take 100% control ..but that would then mean OG Energy mgmt would have to be more involved in operations ... From what I heard OG very much like to sit in the back round and don't even take a wage...

I think more so OG Energy see their NZO investment as purely a good place to park capital (like the MEGA rich do with homes all round the world) ...OG Global (owner of OG Energy) I understand is 100% owned by Billionaire "Eyal Ofer" ...
with assets worth north of $16 Billion USD ...

I don't think Eyal Ofer companies with the hundreds of millions in FCF would be sitting around concerned about when NZO was going pay his company some cash ... I think his issues is where to put all the Free cashflows ... a Shipping magnate and we all know how FAT profits have grown in that sector..

OG Energy of course purchased 40% interest in Beach Energy's Victorian Otway assets in May 2019...yet again buying O&G assets but happy to let the locals run the day to day business ...

I hope I'm wrong but I wouldn't be surprised to see NZO / CUE only move up in value few cents from the interest from small time retail punters hoping for much higher SP driven by other punters thinking the same on much higher O&G prices and profits etc (Like I stupidly did) ...

But most investors and esp. traders will give them a wide berth

I guess a development in time when Eyal Children inherit the assets..he has four children .... could be 10yrs++ away though

[JBmurc]

Market perception is not what ogog are about.
Just wait for the dividends-ogog are financially prudent but do not leave money idle.
With current and futures natural gas prices and legacy contracts expiring expect to see a massive increase in income and dividends quickly following.
We will then also see the sp more than double-estimate 2 years if the market fails to anticipate before

If you do want more CUE shares FISH .. I've still got 3.3mill I'll let go for a good price

[fish]

I would love to see CUE move towards a solid Yield return to S/H's 5%+pa .... but last time I talked with "Matt Boyall" the focus was in funding the many projects CAPEX/OPEX demands which were looking so high as to having to borrow 7mill off NZO .. "Paus Biru" if going ahead will take up to 2yrs to see any cashflows.

--Jeruk could well be another drain on funds if the JV decide to take it to development stage..

Yes new Gas contracts will add more to the bottomline ... But I wouldn't be surprised if the excess funds aren't just funnelled back into further development costs ...farm ins etc... also both CUE/NZO have a history of sitting on cash ... why would this change?

You seem pretty confident in OG Have you spoken with OGOG directors ? what makes you think they will want NZO/CUE to start to pay Dividends they have been holding controlling stake in NZO for some 5yrs zero talk of becoming a Dividend player..as I explained they could quite easily take 100% control ..but that would then mean OG Energy mgmt would have to be more involved in operations ... From what I heard OG very much like to sit in the back round and don't even take a wage...

I think more so OG Energy see their NZO investment as purely a good place to park capital (like the MEGA rich do with homes all round the world) ...OG Global (owner of OG Energy) I understand is 100% owned by Billionaire "Eyal Ofer" ...
with assets worth north of $16 Billion USD ...

I don't think Eyal Ofer companies with the hundreds of millions in FCF would be sitting around concerned about when NZO was going pay his company some cash ... I think his issues is where to put all the Free cashflows ... a Shipping magnate and we all know how FAT profits have grown in that sector..

OG Energy of course purchased 40% interest in Beach Energy's Victorian Otway assets in May 2019...yet again buying O&G assets but happy to let the locals run the day to day business ...

I hope I'm wrong but I wouldn't be surprised to see NZO / CUE only move up in value few cents from the interest from small time retail punters hoping for much higher SP driven by other punters thinking the same on much higher O&G prices and profits etc (Like I stupidly did) ...

But most investors and esp. traders will give them a wide berth

I guess a development in time when Eyal Children inherit the assets..he has four children .... could be 10yrs++ away though

I commend you for starting to do wider research.
Keep an open mind and beware of false lazy assumptions.
Yes my wife and I have had a very useful meeting with AJ and OGOG directors.
IT was very pleasant.
Do not expect any coffee-there are no perks with OGOG-they run a very tight ship.

[JBmurc]

I commend you for starting to do wider research.
Keep an open mind and beware of false lazy assumptions.
Yes my wife and I have had a very useful meeting with AJ and OGOG directors.
IT was very pleasant.
Do not expect any coffee-there are no perks with OGOG-they run a very tight ship.

And you expect dividends lol 😂

[Sideshow Bob]

6.3 cents - lowest price since September last year.

Need a good war and a huge increase in oil/gas pricing to spark this thing up.....oh wait :sleep: Hopefully their FY result might help....

[JBmurc]

6.3 cents - lowest price since September last year.

Need a good war and a huge increase in oil/gas pricing to spark this thing up.....oh wait :sleep: Hopefully their FY result might help....

6.1c soon to go under 6c ? if PV-12 clusterfk results at the shallow depth isn't positive one could see the Buyers run away to the low 5's even though CUE has great Cashflows ...just horror run while AUD O&G prices are still at record high levels ... I so very wish I didn't continue to add to my position over the last couple years .. broke golden rule don't buy more shares than weekly av. volumes

[fish]

6.1c soon to go under 6c ? if PV-12 clusterfk results at the shallow depth isn't positive one could see the Buyers run away to the low 5's even though CUE has great Cashflows ...just horror run while AUD O&G prices are still at record high levels ... I so very wish I didn't continue to add to my position over the last couple years .. broke golden rule don't buy more shares than weekly av. volumes
You might be happier if you gave up trading shares.
Just buy those that you believe will be good dividend payers such as NZog!

[JBmurc]

You might be happier if you gave up trading shares.
Just buy those that you believe will be good dividend payers such as NZog!

Know love trading shares ... don't like boring snail pace stocks ...If I was after yield I'd buy another commercial property or fund some peer to peer lending ... not interested in sub 8% yields ... NZO dividends ????

Did have some nibbles on my 6.9c CUE sell order so one positive for my CUE holding reducing ...just over 3mill more to go ..

[fish]

Know love trading shares ... don't like boring snail pace stocks ...If I was after yield I'd buy another commercial property or fund some peer to peer lending ... not interested in sub 8% yields ... NZO dividends ????

Did have some nibbles on my 6.9c CUE sell order so one positive for my CUE holding reducing ...just over 3mill more to go ..

Another successful mahotu drill announced after you sold-by my rough calculation this field is earning cue $100,000 per day and next drill started so likely to be 200,000 in next 12 months
Natural gas futures really good for imminent Amadeus low gas price contracts to roll off.
I have no intention of selling NZo-they are going to pay dividends-likely starting in approx 12 months imho .
Looks to me that cue sp will incrementally increase as production increases but big increases next year as Amadeus gas sales increase several times in value.

[JBmurc]

Another successful mahotu drill announced after you sold-by my rough calculation this field is earning cue $100,000 per day and next drill started so likely to be 200,000 in next 12 months
Natural gas futures really good for imminent Amadeus low gas price contracts to roll off.
I have no intention of selling NZo-they are going to pay dividends-likely starting in approx 12 months imho .
Looks to me that cue sp will incrementally increase as production increases but big increases next year as Amadeus gas sales increase several times in value.

Yes CUE has a great future ..a great BUY if your a true believer ....you can have my last 2.6mill for 7.2c ....

[troyvdh]

JB I love this...being a none believer in the almighty...(apart from you off course)...may CUE follow the path of LRS....perhaps ...maybe...

[JBmurc]

JB I love this...being a none believer in the almighty...(apart from you off course)...may CUE follow the path of LRS....perhaps ...maybe...

I'd say VERY VERY unlikely to follow the likes of LRS path ... CUE hasn't got any major impact exploration drilling I know of anytime soon(esp as we seen CTP ditch the two large deep GAS exploration wells) ...CUE pathway is minor interest in mature Oil Gas field development over many months to years ... CUE isn't involved in big impact exploration upside ... like LRS or better comparison MAY
most of my sold CUE funds have moved into another O&G player CE1 ...lower risk producer like CUE but I see more upside and double the boepd

CUE is a safer O&G play with upside from either NZO/OG T/O or merger .....Oil Gas price upside with around 2000boepd nett production and likely higher Boepd over the next couple years + Cashflows ....maybe CUE will have the funds to see a interest in a much larger target ?

My SELL target on CUE was always somewhere in the teens 12-18c .... but then I found out INDO royalty with Mahato ... CUE gets to take only 50% of their 12.5%( ... so even though Mahato has been a great cashcow project but CUE only takes a fraction of the 5500bopd at present CUE will net around 343bopd ... (going off last Qty CUE net bopd was much lower!!)

[JBmurc]

Step up more cheap CUE shares for sale today as I realise some tax losses and move onto better opportunities.. so line up ....>> Fish your a rich Doc

[Sideshow Bob]

Step up more cheap CUE shares for sale today as I realise some tax losses and move onto better opportunities.. so line up ....>> Fish your a rich Doc

Not going to wait until FY results? Must be this week? Or just lightening the load??

[JBmurc]

Not going to wait until FY results? Must be this week? Or just lightening the load??

will still have some shares for any FY result lift in interest .... I see PV-12 P2-P3 has hit zero gas just water what a massive F.U that well was ... they will try sidetrack operations into the P1 which will just drain present P1 resources faster ... what could have been at the deeper target

[nztx]

will still have some shares for any FY result lift in interest .... I see PV-12 P2-P3 has hit zero gas just water what a massive F.U that well was ... they will try sidetrack operations into the P1 which will just drain present P1 resources faster ... what could have been at the deeper target


Further carnage following Iron Bark 18 months or so ago ..

[JBmurc]

Further carnage following Iron Bark 18 months or so ago ..

yes and worse how long it took ...that drill team making millions drilling slow as possible taking the piss IMHO ...

[NZSilver]

really sad state of affairs, poor capital allocation, as JB said - drill boys made a killing

[fish]

really sad state of affairs, poor capital allocation, as JB said - drill boys made a killing

Do you really believe this ?
Exploration is always more likely to fail than succeed .
Now the exploration part of this drill is over we are back to enhancing production .
YOU HAVE TOTALLY IGNORED THE REWARD .
Try looking at the price of natural gas/lpg.
Look at futures
Estimate future income as new contracts will be signed at multiples of existing

[JBmurc]

Do you really believe this ?
Exploration is always more likely to fail than succeed .
Now the exploration part of this drill is over we are back to enhancing production .
YOU HAVE TOTALLY IGNORED THE REWARD .
Try looking at the price of natural gas/lpg.
Look at futures
Estimate future income as new contracts will be signed at multiples of existing


If you believe in the rewards you should be loaded up in cheap shares got the last of my lot 6.4c cheap as chips

[Sideshow Bob]

$16.1m Net Profit, EPS 2.3cps means a PE of just over 3.

2924-02558289-3A600170 (markitdigital.com) (https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02558289-3A600170?access_token=83ff96335c2d45a094df02a206a3 9ff4)

[troyvdh]

Whats going on....I smell a rat here.

[Lion]

Whats going on....I smell a rat here.

How do you mean, Troy? It's all pretty great news, isn't it?

[troyvdh]

Lion..no question it was..quite stellar. Shares traded...$16k.Ive been around a while...was this result factored in already..hence the muted response ?.Yes the SM is an indifferent beast..I suppose eh.

[fish]

Lion..no question it was..quite stellar. Shares traded...$16k.Ive been around a while...was this result factored in already..hence the muted response ?.Yes the SM is an indifferent beast..I suppose eh.

Absolutely.
My problem with cue is knowing if they will pay a dividend in the next few years .
I would buy back in if they gave at least some indication what they are thinking.
The eps next year will be around double and probably double again in2024

[JBmurc]

Absolutely.
My problem with cue is knowing if they will pay a dividend in the next few years .
I would buy back in if they gave at least some indication what they are thinking.
The eps next year will be around double and probably double again in2024

Far too much CAPEX/OPEX for divi's next 12-24m .. plus they want to farm into more production in a very bullish O&G market ..

[JBmurc]

Looking like dumping CUE was the smart move already made back the losses pretty quickly after the slow painful hold of going nowhere fast CUE/NZO

[troyvdh]

What the heck..you once proclaimed that Cue was a significant holding....have you lost the faith...like LRS....cheers.

[JBmurc]

What the heck..you once proclaimed that Cue was a significant holding....have you lost the faith...like LRS....cheers.

Yes I was like 9th largest holder of CUE stock a month or so ago ... but I got sick and tired of seeing other stocks trade decent volumes and have market attentions

...PV-12 drill was the last straw and decided to take the loss and move on .also talking with the MD didn't fill me with great confidence of anything material attracting market attention now NT deep Gas targets are out of the picture ..

I haven't lost the faith in LRS ... its got real major upside to come IMHO ....I actually added more recently

I have moved up a notch in my trading now its my main income source(and I have a family to support and wealth to grow:) ... investing Qtr Mill into a snail stock didn't make sense...

...

[fish]

Looking like dumping CUE was the smart move already made back the losses pretty quickly after the slow painful hold of going nowhere fast CUE/NZO

That was a big loss for you.
How have you made it back so quick?

[troyvdh]

Go well guys....I'm now a grandfather...cheers.

[JBmurc]

That was a big loss for you.
How have you made it back so quick?

smart trading ...fish .... LOL .... sadly I might have jumped the gun as some of my runners today closed lower ....

from my number I took around a $30k loss on my CUE holdings ...(was selling since JULY)

from CUE funds re-invested ..I some quick trades in the likes of CNJO 3.3c sold 3.8c-3.9c.. made $$4.5k ....trade amount of MAY 9.5c sold 12.5c made over 15k...
purchased some AHQ 11c (touched 12c today but did close back down 11c)

...I did also buy a good chunk of BSE 34c ... thats paying a 3c divi ex date soon,,,sadly closed down 1.5c but was holding purchase price when I posted,,, had some small positive trades in CPN / TGP ... purely as shares ran away from my position build so sold and took the money rather than hold small position


So still some way to got to make back 30k loss but think the companies I've shifted into can do it much sooner than CUE

[JBmurc]

Go well guys....I'm now a grandfather...cheers.

Nice ... I'm hoping many years away for me ....

[Sideshow Bob]

Dividend certainly done (much needed) wonders to the share price - From about mid 6c' last week to 11c today.

[mike2020]

I still think it's undervalued if they are going to pay this as a special div and then half yearly on a regular basis. It has taken a long time to get to an earning and paying basis after the loss of Ironbark. I hope to see more. If you bought at 6 cents you could see more than half of that back in 12 months.

[troyvdh]

Im hopeless with numbers...with this div...what is the yield % .