🕐02.12.14 - 07:54 Uhr

CUE ENERGY RESOURCES LTD. [ASX:CUE] - FIRST OIL FROM THE MAARI GROWTH PROJECT OFFSHORE TARANAKI, NZ





Fortbridge Media Release

Cue Energy Resources Ltd. [ASX:CUE] - First Oil from the Maari Growth Project offshore Taranaki, NZ

Cue Energy is pleased to announce that production from the first of the Maari Growth Project wells to be brought on stream, the MR8A well, has started at a rate of approximately 2000 barrels of oil per day (100 barrels/day Cue share). Production from the well is being gradually ramped up to its estimated production capacity of 4500 barrels of oil per day.

Cue has been informed by the Operator that production was started on 28 November from a previously undrained compartment in the Maari Field in permit PMP 38160. The well was side tracked out of a reclaimed well slot and drilled horizontally into the Moki Cycle 2 formation to a total length of 3824 m.

The Maari Growth Project offshore Taranaki in New Zealand aims to increase reserves, production, and recovery from the Maari field. Significant reserves remain at Maari and Manaia and the planned additional development will provide for the extraction of these reserves. Five wells are expected to be drilled by mid-2015, using the ENSCO 107 jack-up rig.

To view the full announcement, please see attached.

For further information please contact:

Andrew M. Knox
Chief Financial Officer
T: +613 8610 4000
E:
W:

For media and investor inquiries, please contact:

Fortbridge / Sydney
Bill Kemmery
Tel: +61 400 122 449
Email:

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Christine Wootliff
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Pierre Mas
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Matt Beale
Mobile: +44 (0) 7966 389 196
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Frederic Matteucci
Mobile: +41 77 4703763
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Julian Beach
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Michael Huang
Mobile: +86 139 1110 3339
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