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CUE - CUE Energy

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Oh Baby!!!!

How good is it OldBlue, been waiting for this for over a year now and its setting up perfectly!

Just need to push through 27cents this week and the cup and handle will be playing out. Should do that tomorrow if the price of oil holds and if we do i'd say 30cents is very likely before we get the results of Cobra 1.

Still looking to off load a few before Cobra 1 but, above 27 cents.

Anyways, i couldn't be happier, absolutely stoked!

JW:cool::D:cool: yeeeee heeee, enjoying my trading!!!
 
Evening Gentlemen,

for what its worth i see Wise Owl has Cue as a buy, i'd be setting my stop at about 22 cents rather than 15 cents as they recommend.............anyway, more good sentiment for us!!

This is their recommendation

CUE - Cue Energy Resources Limited Issue Date 28/04/2008

Recommendation
Recommendation Spec Buy
First Recommended 28-Apr-2008
Current Price 0.25
Target Price 0.42
Stop Loss 0.15
Earnings
Market Capital $148m
Price Depth Strong

The commencement of first oil production from the Oyong field in Indonesia in September last year timed well with the oil price surging to record highs. The next phase of development at Oyong will involve extraction of its gas reserves which stand at 80-103bcf. First production at a rate of 60m cubic feet per day is targeted for Q309. Boosting the potential for gas production at Oyong, was a nearby discovery known as Wortel. Wortel's close proximity to Oyong allows the possibility of developing Wortel gas through Oyong facilities, with Wortel gas potentially coming on stream at the same time as Oyong gas. Cue's other key development is its 5% interest in the Maari oil field in NZ, which is due to commence production in Q308 with full production by early 2009. In addition to Maari, the Wortel and Oyong gas fields will attract much of the market's focus over the year ahead. However from a longer term perspective, we are encouraged by the fact that Cue's estimated gas reserves at Wortel and Oyong form only 6.6% of the company's overall estimated gas portfolio.


Its Waskily Wabbit genius i tell ya!!

And just for Treefrog, i sold another 40,000 today at 27.5 cents to add to my already hefty profits.

JW - kicking ass :cool::D:cool:
 
Centreport Wellington shipping schedule has FPSO "Raroa" due to depart on 20 May. No destination shown but we all know, don't we !

:)
 
JeSSica WaBBit said:
Just need to push through 27cents this week and the cup and handle will be playing out. Should do that tomorrow if the price of oil holds and if we do i'd say 30cents is very likely before we get the results of Cobra 1
Click to expand...

...................next fib target after 27/8c is 33c then 42c - not many legs left thereafter without a retrace.................................
 
Ms Wabbit ,

I just got back from India and was out of touch most of the time . Cue has really surprised me . You will be rolling in carrots soon , and more to come I hope .

It just hit .30 this morning and around 370,000 on to buy at .295 .

I have 200,000 @ .195 , and I am going to hang on for a while .

Good luck to you and Old Blue ,

Jigalong .
 
Good on ya Jigs,

always nice to return from holidays with a larger bank balance than when you left. Hope you milk it for everything its worth.

Yer i am still holding 390,000 and i dont have any reason to sell those any time soon. They will be paying and paying big before any one gets those.

Showing a 140% gain on the shares, portfolio is all GREEN at 50% reduced CGT. I can smell a multibagger.

Plenty left in the tank i'd say.

I off loaded 80,000 just to lock in a few profits and take advantage of other trading opportunities. All good, its money in the bank. AGO & GCR have more than rewarded me for that decision.

Its playing out just as predicted, we havn't even had any significant announcements, a big break or gap yet. Just wait for the big break out with volume, that will signal that its game on!!

I'm still claiming it was waskily wabbit genius. When i do finally sell out and put my profits into carrot futures and they ask, 'how did that wabbit do it', i'll just tell em to look back through the ASF forums (CUE) and there they can read all about it.....................never been more confident.


JW :cool::D:cool:
 
Anyone feeling down should have a look at CUE's 3 month candlestick chart.
A lovely picture!
:)
And all on rising volume.
 
Centreport Wellington now have FPSO "Raroa" scheduled to leave port on Sunday, 11 May.
Destination remains a secret ( at least as far as Centreport is concerned! )

;)
 
This Wise Owl :

Cue Energy Resources Limited (CUE)
Sector Energy
Index none
Market Capitalisation $148m
Strategy
Recommended Date 28/4/2008
Share Price * $0.25
12 Month Price Target $0.42
Suggested Stop Loss $0.15
* Price at close of trade on 28/04/2008



Wise-Owl Checklist

* Management are veterans of the oil and gas sector and have overseen the development of the company’s assets through exploration to production stages.
* Should oil prices remain firm, the company could generate in excess of $100m in revenues within the next two years.
* Revenues from Oyong, first production from Maari, and a third drill hole at the Wortel gas field are expected to be key share price drivers in the short term.
* Major shareholders include Todd Energy NZ (25%) and Singapore Petroleum (14.06%).
* The stock appears to be breaking out of a 5 month consolidation pattern, and from a multiyear perspective is moving within a symmetrical triangle pattern.

Summary

Cue Energy Resources aims to drive share holder value by developing its established and geographically diversified hydrocarbon inventory towards production. After years of exploration and appraisal, its total proven and probable (2P) oil reserves now stand at 3.49million barrels, while 2P gas reserves stand at 365billion cubic feet (bcf). Cue already receives revenues from its minority share in the SE Gobe oil field in PNG. However the company’s growth prospects hinge on the development of its other oil and gas assets, particularly the Oyong in Indonesia and the Maari Oil Field in New Zealand. Oil production at Oyong has already commenced, while first oil is expected at Maari in Q308. On going development of projects and the onset of additional revenues are expected to be key share price drivers during the year ahead.

Background
Cue Energy Resources (CUE) is an emerging oil and gas producer with a focus on Australia, New Zealand, and South East Asia. Cue intends to grow its value in excess of $500m by developing a range of exploration and near term production assets. Given the company’s relatively large market cap, production setbacks or lower than expected flow rates are key risks facing the stock, along with oil and gas prices. However the company’s very large undeveloped gas reserves should provide valuation support over the longer term.

Investment Summary
The commencement of first oil production from the Oyong field in Indonesia in September last year timed well with the oil price surging to record highs. The next phase of development at Oyong will involve extraction of its gas reserves which stand at 80-103bcf. First production at a rate of 60m cubic feet per day is targeted for Q309. Boosting the potential for gas production at Oyong, was a nearby discovery known as Wortel. Wortel’s close proximity to Oyong allows the possibility of developing Wortel gas through Oyong facilities, with Wortel gas potentially coming on stream at the same time as Oyong gas. Cue’s other key development is its 5% interest in the Maari oil field in NZ, which is due to commence production in Q308 with full production by early 2009. In addition to Maari, the Wortel and Oyong gas fields will attract much of the market’s focus over the year ahead. However from a longer term perspective, we are encouraged by the fact that Cue’s estimated gas reserves at Wortel and Oyong form only 6.6% of the company’s overall estimated gas portfolio.
 
Oldblue,

any news regarding 'Centreport Wellington now have FPSO "Raroa" scheduled to leave port on Sunday, 11 May?'

Has it departed?

Should be very interesting over the next few weeks as Cobra 1 deepens and approaches the target zone. Would not be suprised to see a few jump on board towards Friday.

JW :cool::D:cool:
 
JeSSica WaBBit said:
Oldblue,

any news regarding 'Centreport Wellington now have FPSO "Raroa" scheduled to leave port on Sunday, 11 May?'

Has it departed?

Should be very interesting over the next few weeks as Cobra 1 deepens and approaches the target zone. Would not be suprised to see a few jump on board towards Friday.

JW :cool::D:cool:
Click to expand...

Hi JW

Yes, "Raroa" sailed as scheduled. Destination was posted ( on the day of sailing ) as New Plymouth. Havn't heard anything else so we can assume she got there safely!

:)
 
oldblue said:
Hi JW

Yes, "Raroa" sailed as scheduled. Destination was posted ( on the day of sailing ) as New Plymouth. Havn't heard anything else so we can assume she got there safely!

:)
Click to expand...

Have to admit that I took my eye off the ball, so to speak, once "Raroa" had sailed from Wellington. ( Yes, I saw it leave!)
Checked Port Taranaki shipping movements this morning for the period post 11 May and "Raroa" doesn't get a mention. Conclude therefore that she has gone directly to station at the Maari field ?

:)
 
No worries Oldblue,

At least i know that she has departed, maybe we will get an anouncement by the end of the week?

I noticed some of the larger oilers SP are beginning to take off, expcting the smaller oilers to have a similar run in the next month if the oil price holds. A rerating has been on the cards for some time and maybe the wake up call has finally gone out?

Thanks for the update and keep us posted if you hear any other news.


JW :cool::D:cool:
 
See announcement on ASX website for today's "Excellence in Oil and Gas Presentation ".

Maari progress:

"Platform installed. FPSO on location."

;)
 
Hey, what do you make of todays announcement?

It said 'the secondary Hedinia target has been penetrated and elevated gas readings have been recorded'.

Not sure what to make of that but it reads to me that they have hit gas and still have at least another 150 metres to drill. So, does this mean we have hit a gas pocket, possibly with oil beneath or does it simply mean higher gas levels where recorded from readings for the bore and material?

Buggered if i know?

Price has come back from 29 cents, i unloaded a few at 27.5 and 25.5 just to be sure and if this Cobra 1 is a duster i am hoping it pulls back to 20 cents so i can buy back those shares i sold. Sell'em high and buy'em back low, so i can sell'em high again............argh so the cycle continues..............funny game this share business.

Should know buy the end of next week, either way, a winner.

JW :cool::D:cool:
 
Still not sure what to make of the Cobra 1 results to date..............hoping for a pull back to 20 cents so i can reenter and buy back those shares i sold a few weeks ago.

Wire logs to follow, not expecting anything significant.

Things might go quiet for a few months until Maari is ready to go?

With oil above $130.00 revenue must be pouring into Cues accounts. Hope they make enough over the next year to cover all capital costs for future projects.

Well, its a good opportunity to buy some at lower prices. Maybe our friends over at SPC will begin to buy again?


JW :D:cool::D
 
yes, Cue always said that Cobra drilling was a risky project. the announcements on this drill site is a little sketchy, it looks like they are assessing if its viable for them to dig the stuff out. It may look like there isnt anything there.

However as per my calculations i did not factor in Cobra, so i still hold with confidence :)..... waiting for 2009
 
Waiting and watching, hoping we get a drop to 20 cents so i can buy back my shares i sold off earlier.

There should be an opportunity to reload in the next few weeks/months before Maari kicks off. Just keeping an eye on America and when they have a black day and it hammers the ASX, i'll be buying my Cue back.

Nearly bought today at 22c cents but it looks like going lower, i'll be stoked if i can get them back at 20 cents...............just goes to show, always wise to sell off a few in bundles and then rebuy them on the sell off when everyone has lost interest.

Cobra 1, still not sure what to make of it?

JW :cool::D:cool: still hanging out for the end of the year..............
 
Hi JW

Looks like you may not get a chance at 20c!
The announcement by MEO re their partnership with RDI and funding for Zeus -1 may put a stop to that. On the other hand if you move quickly .....?
Should be some good news coming soon with price of Tapis at USD153 this am and Maari getting closer to production.
;)
 

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