Fortbridge Media Release

Cue Energy [ASX:CUE] - Cue Energy announces 13.75 million dollars profit for 1H to 31 Dec 2014

Cue Energy Resources Limited (ASX: CUE) is pleased to advice that the company has produced a profit of 13.75 million dollars for the 1H financial period ended 31 December 2014.

Highlights
Financial Summary
* Production Income - 18.6 million dollars (up 26 percent from last year)
* Gross Profit from Production - 12.04 million dollars (up 131 percent from last year)
* Profit after Income Tax - $13.75 million dollars

Existing Permit Activity
* Sale of PNG asset portfolio for 7 million US dollars completed.
* 100 percent working interest and operatorship of the Mahakam Hilir PSC, Indonesia acquired, subject to completion

Production
* Maari growth project proceeding with the MR8A well on production and the MR6A well currently drilling. Growth project drilling expected to be completed in mid 2015.
* Sampang PSC well workover and compression installation underway which should extend the field life of Oyong oil production and maintain gas production from Oyong and Wortel.
* Cue is currently reviewing opportunities to acquire producing assets.

Exploration
* Planning underway for the Naga Selatan -2 well to be drilled in the Mahakam Hilir PSC in the second half of 2015.
* 12.5 percent interest acquired in the Mahato PSC in Indonesia (subject to government approval) with 2 wells planned for 2015.
* 100 percent of WA-409-P acquired. Cue is compiling a prospect portfolio across both WA-409-P and its other 100 percent owned permit, WA-359-P, with a view to farming out in 2015.
* PEP 51313 Whio (NZ) offshore exploration well plugged and abandoned with shows.
* PEP 51149 Te Kiri (NZ) onshore exploration well scheduled to be drilled in Q4 2015.
* Cue continues to review new exploration opportunities in Australia/Asia.

Please download the attached press release for further details
For further information please contact:

Andrew M Knox
CFO
T: (03) 8610 4000
E:

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