Fortbridge Media Release

Cue Energy [ASX: CUE] - Banambu Deep-1 Well Drilling Update, WA-389-P - June 2012

Cue Energy Resources Limited (ASX: CUE) has provided the following update on the Banambu Deep exploration well in permit WA-389-P offshore Carnarvon Basin, Western Australia.

Progress

The operator has advised that current operations at 06:00hrs 13th June 2012 is pulling out of hole to change the bottom hole assembly (BHA) after drilling 311mm (12 ��) hole to a depth of 2573mMD. Since the last report the 445mm (17 ��) hole was drilled to a depth of 2570mMD after which 340mm (13 3/8�) casing was run and cemented, with the shoe set at 2563.6mMD.The blow-out preventer (BOP) was installed and tested prior to running in hole with a 311mm (12 ��) drilling assembly to drill and clean out cement to 2573mMD and perform a leak-off test.

Forward Plan

Run in hole with new BHA and continue drilling the 311mm (12 ��) hole section to the planned intermediate casing point at 4155mMD.

Please see more in the attached announcement.

For further information, please contact:

Cue Energy Resources Ltd
T: +61 3 9670 8668
E:

Media/investor enquiries:

Peter-John Lewis
Fortbridge
E:
P: +61 2 9003 0481
M: +61 416 290 604