Annual
General
Meeting
2 8 O c t o b e r 2 0 2 1
C U E E N E R G Y R E S O U R C E S L I M I T E D A S X : C U E
Disclaimer and Important Notices
Various statements in this document may constitute statements relating to intentions, opinion, expectations, present and future operations, possible future events and future financial prospects. Such statements are not statements of fact, and are generally classified as forward looking statements that involve unknown risks, expectations, uncertainties, variables, changes and other important factors that could cause those future matters to differ from the way or manner in which they are expressly or impliedly portrayed in this document. Some of the more important of these risks, expectations, uncertainties, variables, changes and other factors are pricing and production levels from the properties in which the Company has interests, or will acquire interests, and the extent of the recoverable reserves at those properties. In addition, the Company has a number of exploration permits. Exploration for oil and gas is expensive, speculative and subject to a wide range of risks.
Individual investors should consider these matters in light of their personal circumstances (including financial and taxation affairs) and seek professional advice from their accountant, lawyer or other professional adviser as to the suitability for them of an investment in the Company.
Except as required by applicable law or the ASX Listing Rules, the Company does not make any representation or warranty, express or implied, as to the fairness, accuracy, completeness, correctness, likelihood of achievement or reasonableness of the information contained in this document, and disclaims any obligation or undertaking to publicly update any forward-looking statement or future financial prospects resulting from future events or new information. To the maximum extent permitted by law, none of the Company or its agents, directors, officers, employees, advisors and consultants, nor any other person, accepts any liability, including, without limitation, any liability arising out of fault or negligence for any loss arising from the use of the information contained in this document.
Reference to "CUE" or "the Company" may be references to Cue Energy Resources Limited or its applicable subsidiaries.
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Wortel WHP, Medco Energi
2021 Annual General Meeting 28 October 2021
Significant Growth Activities in FY2021
$22.4m FY21 revenue
First oil production from Mahato PSC
4400 barrels of oil per day (bopd) current production
6 productions wells, 2 more this calendar year Further development being considered
Amadeus Basin, onshore Australia, asset acquisition
Mereenie, Palm Valley and Dingo producing fields
2 development wells drilled + 4 well re-completions undertaken
Exploration and development opportunities near term
boepd | Cue Net production |
2500 |
2000
1500
1000
500
0
Jul-20 | Oct-20 | Jan-21 | Apr-21 | Jul-21 | Oct-21 |
2021 Annual General Meeting 28 October 2021
Onshore Australia production shown from transaction completion on 1 October 2021, The acquisition had an effective date of 1 July 2020, with all production 1 July 2020 - 30 Sept 2021 credited to a completion working capital adjustment
Four revenue producing projects
Mahato PSC | |||
Interest | 12.5% | Sampang PSC | |
Net Production | 500 bopd | ||
Interest | 15% | ||
Oil | |||
Net Production | 715 boepd | ||
Gas |
WA-389-P | ||||
Interest | 100% | Mereenie/Palm Valley/Dingo | ||
Exploration | Interest | 7.5 - | 15% | |
Net Production | 580 boepd | |||
Gas & Oil |
Maari/Manaia | |
Interest | 5% |
Net Production | 220 bopd |
Oil |
2021 Annual General Meeting 28 October 2021
Net production average estimates for the first half of October 2021. Net production from Indonesian PSCs will vary over time with cost recovery.
Revenue growth from existing and new assets
Cue Reported Quarterly Revenue
12 | $A million | Existing projects | Onshore Australia | |||
10 | ||||||
8 | ||||||
6 | ||||||
4 | ||||||
2 | ||||||
0 | ||||||
Q1 FY2021 | Q2 FY2021 | Q3 FY2021 | Q4 FY2021 | Q1 FY2022 |
2021 Annual General Meeting 28 October 2021
Cash Basis for existing assets
Onshore Australia reported as attributable revenue from Quarter of agreement signing (Q4 FY2021). The effective economic date was 1 July 2020. Cue's share of revenue to 1 October 2021 was paid as a credit to the completion working capital adjustment.
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Cue Energy Resources Limited published this content on 28 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 October 2021 23:59:08 UTC.