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CUE - CUE Energy

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Oil down again....

Tree frog,
I will leave this thread now...
I will let CUE's Share performance speak for itself...
I will not be blamed for manipulating the SP...
This is going to be steady as she goes over the next few weeks/ month...
until then...
Luck to yah...
:cool:
.^sc
 
:)

Hi folks,

CUE ..... if you think it's bad now ... maybe check on it tomorrow 13082008,
especially, if it breaks down through key support, at 20.5 cents ... and again,
later this month, around 28082008, as we see 2 strongly negative cycles
move in on CUE ..... will be alert for a low around that time.

Next round of positive time cycles and the first sign of recovery for CUE
is expected, around 26-29092008 ..... :)

October 2008 should be a good month for CUE, especially around
09-13102008 and 28-29102008, with a negative cycle between,
expected on 23102008.

November 2008 should be also positive for CUE, in the first 3 weeks,
but from 21112008-to-month's end, we expect to see three (3)
significant and negative time cycles in play.

December 2008 - Expecting minor and positive news from CUE,
around 15-16122008.

January 2009 ... significant and positive cycle 08012009.

February 2009 ... positive spotlight on CUE, on 23-24022008.

More later.

have a great day

paul

:)

=====
 
CUE have announced new exploration acreage adjacent to the Maari/Manaia fields with plans to drill next year.

Looks promising!

:)
 
Yep, management are gradually building this company and surely it can not be long now until the broader market begin to pile into this stock.

I am still holding long, just too many good things to come n the next 12 months.

It will be good to get the results of the liquid found in Cobra, i know it is oil but i wonder if it is a significant find?

I have been waiting for it to dip to 20 cents so i can soak up a few more but i dont think it is going to get there, might have to bite the bullet soon and buy some at 21.5 or higher or i might miss out.

Anyway, i am still very excited about the upcoming exploration and production program.

JW:cool::D:cool:
 
CUE result out.
Revenue up 302% to $38.8m, Net Profit at $11.7m, much improved from last year's substantial loss.
Although only about 2c per share, it's a better result than I was expecting, benefitting from the rise in the PoO, of course.
Next year should show good revenue from Maari, due to come on stream shortly.

;)
 
Wellington's DominionPost reports this morning that " ... the partners in the Maari field have been waiting many weeks for a "window" of a few days of good weather to shift the rig to Maari and drill eight wells. "
Not too long now!

;)
 
Horizon Oil joins hunt for offshore bonanza
By JAMES WEIR - The Dominion Post | Friday, 05 September 2008

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AdvertisementAustralian exploration company Horizon Oil is joining the hunt for a potentially 100 million-barrel oilfield off Taranaki at the Matariki prospect.


Horizon is taking a 25 per cent stake in the permit area that includes Matariki, which is about 20 kilometres south of the 50 million-barrel Maari field, in which Horizon has a 10 per cent stake.

Horizon took the stake through a farm-in deal with Todd Energy, the operator of the permit. Todd said two years ago that Matariki could hold up to 100 million barrels of oil, and the Moki sands would be the main target for drilling.

Horizon will earn its share by paying for 37.5 per cent of the first well to be drilled, probably on the Matariki prospect, possibly in the middle of next year.

Another Australian company, Cue Energy, took a 20 per cent stake recently in exchange for funding 30 per cent of Matariki's cost. Neither Horizon nor Todd could be reached for comment on the expected cost of drilling, but others in the industry say an offshore well would cost an average of US$40 million (NZ$58 million).

Matariki is in a permit area about 50km offshore in 70 metres to 100 metres of water.

Horizon said the prospective structures in the exploration permit area 38494 were "generally similar to Maari" with the same shallow reservoir targets and an expected drilling depth of 2000m.

The nearby Pike and Paua "leads" have been covered by a 3D seismic survey, and that information will be reprocessed with the possibility that they could be drilled too. The plan is to drill Matariki at the end of the Maari development drilling programme, and the Manaia appraisal well.

However, the partners in the Maari field have been waiting many weeks for a "window" of a few days of good weather to shift the rig to Maari and drill eight wells. Austrian oil giant OMV has a 69 per cent stake in Maari, Horizon holds 10 per cent, Todd 16 per cent and Cue 5 per cent. OMV would not comment, but it is believed a drilling rig costs about US$500,000 a day.

Meanwhile, L&M Petroleum has agreed to buy into Perth-based Salinas Energy's San Joaquin Basin oil prospect drilling programme in southern California. It will have a right to 20 per cent of a portfolio of leads, with the first well planned to test the Osso Bucco prospect, with a target 18 million barrels of light oil and gas.
 
Horizon's presentation to the Good Oil Conference is available on their website. Interesting stuff but the mildly disappointing thing from CUE's perspective is that first production from Maari is now not expected until November.
 
Hey Blue,

Hows things?

Interestingly, have you seen the market depth recently, sellers are drying up and buyers are loaded on 20.5, 21 & 21.5. Read what you will into it but the numbers are becoming disproportionate. looks like a classic squeeze to me and with that sort of pressure surely the price will increase?

I hear what you are saying that it is a little disapointing about the delay to Maari but i am not too fussed about it, another month or two for me is nothing in the scheme of things, i've waited this long and a little longer is no problem.

Nearly October Blue and we have Spikey and Zeus to look forward to.

JW - just relaxing and waitng for it all to happen - loving life on the Gold Coast..........
:cool::D:cool: Yep, pretty happy with things.....................
 
2737631524_abfbbb7874.jpg


If you look at the graph on the left hand side we have the 1970 well Maui-4 --> drilling of the structure manaia...
As you can see the well was not drilled in the most optimal location which resulted in smaller discoveries in the moki sands and in the Kapuni formation...
Next year the JV is proposing redrilling the same structure updip, (perhaps 600 meters to the North of Maui-4) and we will have a SURE thing tie into Maari facilities which will result in total recoverable reserves increasing 2Million net to CUE...(currently 3million 2P oil reserves---->will be 5m 2p...)
The main field is only developing the Moki Formation at first, and that too has upside in the Mangahewa Formation (kapuni) and the M2a sands... It was previously thought that the Kapuni sands were not economical enough to extract so further testing of these zones will take place throughout the Maari production program in an effort to increase reserves to 100million barrels recoverable...
Matariki is also exciting because it is targeting the same sands as in this well so we have a good shot at a new fairway and a big future in this region....
...
Between this and low risk re-entry of Bariweka (120BCF- 2P to CUE wow)...
Jeruk two wells 09...
zeus and spikey... (gamble)...
and the recent success at Cobra, we have the making of a 50c share next year (on the downside)....even if oil falls and DOW falls to 9k...
These stranded assets of ours in PNG are stranded no more with the OSH LNG project going to takeoff and we are going to go on a ride with our extensive long term Gas Assets in the region...

Cash Maple-as for Cash Maple (120BCF 2P net to CUE)...Currently Coogee is reprocessing the existing Onnia 3d seismic survery over Cash Maple which will allow the JV to remap the field using updated info... this will take the rest of the year... then they will finalise development through either Floating LNG, or Methanol, or compressed natural Gas... and hopefully in 2010 a well...

CUE has better assets than New Zealand Oil and Gas (NZO) and its market cap is something like 4 to 5 times bigger than ours......
... everything I have said is a fact...
there you go...no ramp...
this is a screaming buy and now just waiting for Weather to Clear so production wells can start drilling at Maari...
:cool:
.^sc
 
im over 50% of my wealth in CUE as of about 6 to 8 weeks ago...
21.6 cent average...
Zeus and Spikey coming soon...
costs predominately covered....(so effective free carrys)...
30cents in November...
later...
:cool:
.^sc
 
Hi SC.
Nice post! As a matter of interest, where did the graphics come from? Doesn't seem to be included in CUE's latest presentation to recent Good Oil Conference.

Cheers
 
If I can remember where I got the graphics from?
CUE bought their 5% stake off a company called Delta... I found it somewhere on a Delta presentation...
If you google CUE, and Maari, and Delta you will find it after enough trial and errors... ive just had this info sitting on my computer for quite some time...
I also found some other real good info on other presentations (and I surmarised it here a few pages back in a long winded post)....

theres quite abit of old existing data from Maari (before the development go ahead) which is on the net... its all easily available...

All the JV's have been very very conservative with Maari reserves (apart from HZN, which has suggested up to 87m barrels recoverable)....

CUE initially bought their 5% stake in Maari for only a couple of bucks per barrel, ($2.68US off memory)... but cost increases have seen this rise dramatically...
All this will be offset by reserves increasing close to 100%...(potential in the main field, and sure thing at manaia)....
Currently in the 2P 50.1 million barrel reserves--->the only thing the JV are currently developing in the Maari Moki sands...
we have alot of upside from Manaia, M2a main field, Kapuni zone in the main field (gas cap)....
...
Bariweka is also low risk... (09 well)...
Kimu is lower risk... well at some stage....
most of our assets are already discovered and just need an appraisal well before development can go ahead... we are sitting on large gas assets, some of which will take time to produce....
OSH LNG Is likely to go into production in 2013, so its abit of a long term hold for that...
but thats just the next stage of growth after Maari production, oyong gas production, manaia oil production (low risk), wortel gas production, and a bunch of wells (some appraisal and some exploration between now and then)

With two wells planned for Jeruk next year, we could see a revival in that project too...(which is currently the same sort of size as Maari)...
:cool:
.^sc
 
Thanks, SC.
Yes, that Google is a marvellous gadget! After a false start following Delta Oil and Gas ( not related as far as I can tell ) I discovered the source of CUE's 5% Maari stake.
Purchased from Delta Oil Taranaki Pty Ltd, a subsidiary of Delta Oilfield Developments Ltd which in turn was owned equally by Carpenter Pacific Resources NL and Westgold Resources NL. Delta had originally purchased from OMV AG.
All ancient history now and a bit beside the point but proves your point that there is a lot of info out there if one is prepared to dig.

Disc: Holding CUE and hoping for some settled weather off the Taranaki coast.


;)
 
Still waiting for that window in the weather!
Gale northerlies currently off the Taranaki coast so we may have to wait a little longer.
Our man on the spot in Nelson reported a couple of days ago that the rig was still in port there.

:cool:
 
thanks for your post---> Old Blue,
My sources say the same thing...
I will post as soon as I hear anything...
recent Market announcement said October...
got to be patient over the next month...
very exciting...
:cool:
.^sc
 
Heres the news... its abit outdated, but still pretty accurate...
October huh... thats like a week away...



UPDATE 1-NZ Maari oilfield delayed; OMV opens Asia trade base

26 Aug 2008 - 19:41

(Adds details on Singapore office)

By Maryelle Demongeot

SINGAPORE, Aug 26 (Reuters) - Bad weather has delayed the startup of New Zealand's 35,000 barrels per day (bpd) Maari oilfield to October from August, an official with field operator OMV said on Tuesday.

Austrian oil and gas company OMV has opened its first trading office in Singapore to market Maari crude, but the field's startup has again been delayed from initial plans for production to start in March or April this year, the head of the new office said.

"Because of bad weather, production has been delayed," said Dan Eng, managing director of the OMV marketing office in the city-state. Upstream developments regularly start later than forecast.

Maari will yield a light sweet crude, with an estimated American Petroleum Institute gravity of 34.6 and a low-sulphur content of around 0.09 percent.

The Maari oilfield is estimated to have recoverable reserves of around 50 million barrels. It is located off the South Taranaki coast and oil will be produced via a Floating Production Storage and Offloading vessel.

Maari is New Zealand's second major oilfield to come onstream since July 2007, when the Tui field started and briefly rose to 43,000 bpd.

Tui's output has already fallen and is expected to average around 25,000 bpd in the financial year ending June 2009, even as the field's reserves were raised to 50.1 million barrels earlier this year.

OMV's Singapore office will be the company's first trading base in Asia, which could also help it market its other equity crudes, such as from Libya, where it produced about 32,000 bpd last year.

The company is in the process of hiring staff and expects a small team of two to three people to start with, Eng said.

OMV holds a 69 percent operating interest in the Maari field, with Australia's Horizon oil with 10 percent, New Zealand's Todd Energy (16 percent) and Cue Taranaki Pty (5 percent) holding the remaining stakes.
:cool:
.^sc
 
DOW falls 770 points and CUE down half a cent to 18.5cents...
this is incredible...
Hey... CUE have extensive proven gas assets of 298 BCF (2P) worth 1.5 Billion dollars at a measley $5AUS per thousand cubic foot, fact...
diversified gas assets at that...

3 million barrels of proven oil, likely to boom to 5 million with Manaia (previously explained)...
and three projects drilling from next month... this is going to be bigger than big... exploration and appraisal upside to assets worth billions for a 110-120 million market cap...
watch out...
:cool:
.^sc
 
aahhhhh....
CUE looked so good today...
Dow was down over 300 points... big down market day...
buyers strong at 17.5... SP spent the whole day flat or up, apart from the last 10 mintues...
next month/late this month we have three projects where drilling starting...
This is the beginning of a journey that has been in motion for 25 years...
large revenues coming...
:cool:
.^sc
 
SC, I'd love to share your enthusiasm! I hold as well (but only a small parcel) but given all the exciting projects they have going, nothing is going to stop the 'big bear' market from swallowing up minnows like CUE, at least for the short term.

I'm going to put in a huge buy order in when it reaches my buy target of 13.5c. ;-)
 

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