Fortbridge Media Release

Cue Energy [ASX:CUE] - Whio-1 Well Spud, Offshore Taranaki Basin, New Zealand

Cue Energy Resources Ltd has been advised by OMV New Zealand Ltd (OMV), the Operator of permit PEP 51313, that the Whio-1 exploration well spud at 9 45 pm (local time) on 23rd July (see map in the attachment). The rig came on contract on 19th July and was towed 40 km from the previous location arriving at the Whio location on 20th July.

Whio-1 is being drilled from the semi-submersible drilling rig (Kan Tan IV) at a surface location 110 km south-west of New Plymouth, Taranaki, New Zealand and 4.5 km south-east of the Maari well-head platform.

The well has a planned total depth of 2,879m MDRT (2,754m TVDRT) and the well path will be deviated northwards from the surface location to avoid possible shallow drilling hazards above the subsurface targets.

To view the full announcement please refer to the attachment.

For more information please contact:

David A.J. Biggs
Chief Executive Officer
+613 8610 4000

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