mmm be great kicker for the CUE SP if they make a good discovery
RELEASE
Spikey Beach -1 Update
T/38P – Bass Basin
Beach Petroleum Limited, the operator for a designated area of interest within permit
T/38P, and the Spikey Beach-1 well reported yesterday (26/08/2009) that:
“It is expected that the Ocean Patriot semi-submersible drilling rig will be assigned to
Beach Petroleum for the drilling of the Spikey Beach-1 exploration well (Beach earning
80%) in T/38P in the Bass Basin offshore Tasmania on or around the 30th August.
Spikey Beach-1 will be addressing mean recoverable oil of 16 million barrels and a
high side of 41 million barrels (recoverable) of oil in the Upper Eastern View Group”.
The participants in Spikey Beach-1 well are:
Beach Petroleum Limited (operator) 80%
Galveston Mining (100% Cue Energy Resources Subsidiary) 10%
Exoil Ltd 10%
Any queries regarding the announcement should be directed to the Company on
(03) 9670 8668 or email mail@cuenrg.com.au.