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CUE - CUE Energy

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Hey tree frog,
its too costly to pull out now...
Todays HZN shareholders statement, stated that operatring revenues net to CUE at $50 US barrels is worth $US 2.25M per month... not bad for 80 m market cap and all that...
Maari is profitable at $US 40 barrels... breakeven around $25-$30 as a guess...
Oil prices wont get much lower...
And full field Maari production is not until August 2008, so stuill plenty of time for prices to rally...
That is a more constructive post from you tree frog...
thank you...

.^sc
 
SC - I don't do "more constructive" posts, only call as I see them - even when I hold.
Maari appears to be a short term producer only SC, and if it is profitable at $40, it may well not be profitable at $35 (I, like you don't know this figure) and I expect the Co also wants to confirm their estimates with production.
As for being too late to pull out - never the case. There will be models existing that show at what $/B they suspend operations rather than continue to pump net cash into the ocean.
Whilst I consider these aspects, hope it comes good for you and other true believers with oil in 12 months around $80/B
 
treefrog said:
Whilst I consider these aspects, hope it comes good for you and other true believers with oil in 12 months around $80/B
Click to expand...

however that is optimistic if you go with oil forecasts - this headline from FN arena article:
Crude Oil's New Target: US$40, And Lower
Tuesday 02 December 2008 - 12:10 PM
If there is one trend in the world of oil experts it is that price predictions continue falling. Has US$30 become the new US$200?
 
hey treefrog,
CUE up 50% this year...

Maari is still profitable at $20 US per barrel...

1st Production is weeks away...

Zeus is coming...

this is all ive been going on about for months and months, and its now finally coming through...albiet on a delayed schedule...

I think you have miss read the Maari Situation as a short term producer only...
Manaia tie in low risk... M2a, and Kupuni formation upside...
Matariki could tie in a further 100million barrels...
without any upside to Maari off current reserves, production is still on the cards much past 2015...

CUE has BOE of $1.375 AUS... low low low...
we are investing in the future price of oil as much as the current price of oil...
If I convert gas assets to oil assets equilivant (BOE), We have an inventory of 57 million barrels of oil 2P... and the market cap is only 85 million odd...
no joke dude...

.^sc
 
Hi CUEers.

Still have some of these from a few months ago (17.5c) and have topped up a month or so ago (12c) when they dropped. Don't hold a motza in them but they do look a reasonable BESBS play.

Further production news should hit the market (maybe even January rather than Feb. income?) and with Zeus to follow, looks like a fair punt to me

I'll be playing it as BESBS play with Zeus but can see value in the longer term as well.

Good luck to all holders...
 
BESB's,
I thought production this month, but Im reading that there are some problems with the union, so maybe delayed abit further...

.^sc
 
Hi SC.

Yes, read an article about it (maybe in The Australian). Didn't impress me as you don't need that press in this market if you are hoping to get a SP wriggle on into Zeus. I reduced my small holdings again on that news - took a very small average profit but not sure (given this market) what sort of SP run we will get into Zeus.
Production is a real bonus (although I'm not sure that the market is really valuing assets as it should - see how many companies have assets/cash below market cap.) but a duster at Zeus will hit CUE hard in this spooked market IMHO.
Still holding a small parcel. Hope you make a motza SC but tread carefully... Don't let emotion rule. (I sound like Grandpa giving advice!)

Cheers,
BESBS
 
hey BESBS,
you are absolutely right about emotions...
I got in "on a large position" based on fundamentals and I wont sell until material change happens to those assets...
right now we have 57 million barrels of oil (BOE), and a market cap of 90 million dollars...
thats less than 2 dollars per barrel...
some long term assets in there... some short/medium term assets...
Zues is a free punt....

you are right about emotions...... I would sell this is a heartbeat if i didnot think it could perform...
might take a few years for oil prices to retrace... maybe this year...
when that happens, watch out....
because this big cat has big assets to develop...
later...

.^sc
 
Hi Shrewd Crude.

Now you would be able to see the portents of Zeus being drilled at this time of the year! The market seems to be positive too with the SP holding up in a tough day.

Gong Xi Fa Cai

 
great news

Taranaki Daily News > Local News > Story Oil workers dispute is settled
By RYAN EVANS ryan.evans@tnl.co.nz - Taranaki Daily News | Saturday, 24 January 2009

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A threatened lockout of 45 Taranaki offshore oil workers has been averted at the last minute.


Offshore Marine Services issued the 45 workers, all Engineering, Printing and Manufacturing Union members, with a lockout notice almost two weeks ago. It was due to come into effect yesterday.

The lockout notice followed an ongoing dispute over employment negotiations. Yesterday EPMU Taranaki organiser Ross Henderson said a deal had been reached on Wednesday after six or seven days of negotiation.

The deal is still subject to ratification but includes a 5 per cent bonus for the workers upon ratification, a 5 per cent bonus on the first off-take of oil and pay rises ranging from 14 to 20 per cent.

It allows the workers to return to work on the floating production storage and uploading vessel Raroa, which works alongside the Maari wellhead platform about 80km off the South Taranaki coast before the lockout.

.^sc
 
CUE looking very sickly today. Trading at all time lows again? Buy side of the order book is terrible.

Holding this one as a long term ride.
 
Hi seasprite thanks for that.

Also out of CUE, broke through way too much resistance for my liking.

Even todys announcement does not seem to have done much good. The 1% gain posted so far does not look so pretty when you consider it's a total of two trades volume at 65,000 at current time (midday).
 
Yup, CUE does look sickly...
Its still the best small oil stock Ive ever seen on the ASX...
revenues will be increasing for the rest of the year with ramp up of production wells...
Oyong gas, and Wortel Gas...
and Manaia...
within two years CUE will have more revenues per year than the current market cap of the stock...
future cash cow...

also big proven assets...
57 Million barrels of Oil (BOE) with a 65 million market cap...
barrels in ground for a buck...

smart players are now getting in...

.^sc
 
would someone be kind enough to post the last announcement of first oil (not the link)...
thanking you in advance...

.^sc
 
oil prices coming around at the right time with first production from Maari a few days ago...
another production well coming online in 1st/2nd week of March...
 
Errr... is anyone else seeing this or is just me? Not sure what's going on. No volume on my IGMarkets account either?

Has the market just walked away from CUE? There is no trading halt from what I can see. No news today?
 

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Plenty of Bids .086 - .099 and Offers .105 - .155 but no trades so far today.
Market doesn't seem keen either way!
 
its pretty simple really...
those that hold the stock know its true worth...
the fact that another production well is coming online this or next week...
the reserves upgrade from HZN...
more to come etc...
....
and the buyers-->
all scared because of the market situation...
hey, a market index is only an average of all stocks...
most will go down, some will go up...
and this stock will go up...
it will take some time to get oil ramped up to full production (which is good, oil prices are low)...
...
Maari is twice the current size of Tui... (PPP)...
few sellers, go figure...

.^sc
 
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