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CUE, CUE ENERGY RESOURCES LIMITED
Brierley
post Posted: Jan 14 2013, 02:34 PM
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A few things going on behind the scenes.

QUOTE
The Edge Financial Daily reported that Scomi’s Australian partner was re-assessing its plans to go into the venture.

It is learned that Cue Energy recently had a change in management when its CEO resigned in November last year, resulting in a re-evaluation of the group’s opportunities.

“The new management decided to re-assess its participation in the RSC because it felt certain risk on the operations were not mitigated,” according to an executive familiar with the deal.


http://my.news.yahoo.com/scomi-confirms-bi...-021503932.html

Not overly impressed to learn this from the foreign press rather than an official update from CUE.


Said 'Thanks' for this post: seeker4it  
 
Brierley
post Posted: Jan 7 2013, 07:11 PM
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Have accumulated CUE recently as a besbs play ahead of Naga Merah well scheduled for Q1 '13, subject to rig and approvals

I expect we'll hear more about timing in the Dec qtr report

CUE got pretty hammered after the duster at Banambu and downhole/production problems at Maari, so I'm thinking not much bluesky is factored into my 13-14c entry.

Cash (~$35mil) is plenty for known expenditures. A presud CR would only occur if there's a new acquisition, imo.

Naga Merah is an appraisal of the Naga Utura discovery well drilled in 2012. Gas and some oil was discovered but downhole problems prevented a successful production test. Prespud resource estimate/target for Naga Utara was 80bcf (CUE 40%).

 
jbmurc
post Posted: Nov 18 2012, 05:19 PM
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In Reply To: colinm_au's post @ Nov 3 2012, 03:50 PM

I wouldn't be surprised to see Todd corp invest some of those funds into the gold sector ...(have talked with a gold explorer MD that was in talks with todd corp recently)



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colinm_au
post Posted: Nov 18 2012, 11:24 AM
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In Reply To: Brierley's post @ Nov 15 2012, 12:06 PM

http://worldmaritimenews.com/archives/69190

"Operator of the Maari Field, OMV New Zealand, today announced the Maari Joint Venture’s decision to exercise its option to purchase the Floating Processing, Storage and Offloading (FPSO) vessel Raroa.


The Raroa has been operating at the offshore Maari oil field since 2009 and is currently leased from Tablelands Development Ltd to the Maari Joint Venture. The lease includes an option to purchase the Raroa after the fourth contract year at a pre-agreed buy-out price.

“We see the purchase of the Raroa as an integral part of our investment strategy for the Maari Field. We plan to tie in new reservoirs through drilling of additional wells. Ownership of the Raroa will give us both flexibility and control, which is particularly important in terms of upgrades and refurbishment that may be required to meet anticipated field life and production,” Peter Zeilinger, Managing Director of OMV New Zealand stated.


This should improve profitability at Maari ...




 
Brierley
post Posted: Nov 15 2012, 12:06 PM
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In Reply To: colinm_au's post @ Nov 3 2012, 03:50 PM

QUOTE
Todd Corp ends 22-year interest in Sky TV with $218M sale

http://nz.finance.yahoo.com/news/todd-corp...-210643197.html

Wonder what they want the money for ... Todd hold 27% of CUE

A takeover of CUE ?


Whether or not its Todd related, seems to be some changes going on.

CEO resigns yesterday with no forewarning.
Another director gone today and Chairman retiring early 2013.

The current production from Maari Manaia is disappointing. Only 6500bopd, 325 bopd net to CUE.
Very recent releases from HZN and CUE stated rates nearly twice that.
Hope its temporary.


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colinm_au
post Posted: Nov 3 2012, 03:50 PM
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Todd Corp ends 22-year interest in Sky TV with $218M sale

http://nz.finance.yahoo.com/news/todd-corp...-210643197.html

Wonder what they want the money for ... Todd hold 27% of CUE

A takeover of CUE ?

 


colinm_au
post Posted: Nov 1 2012, 11:45 PM
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In Reply To: mercury's post @ Nov 1 2012, 11:44 AM

Hi Mercury !
I prefer Capital gains over Dividends as these are subject to lower effective tax due to Capital gains discount if the stock has been held for 12months ...

CUE continue to accumulate cash and if they cannot find any excellent investment opportunities may have a return of capital in the future ala PPP.

CUE have NO Debt and significant assets in NZ, PNG and Indonesia that are highly profitable. This cashflow is being used to fund exploration which has yielded discoveries like Naga Utara which may result in the ability to pay reasonable dividends once developed!!!

And Punters take short term positions ... Investors look at the longer term proposition !!!


Disclosure - I have a significant stakes in CUE, HZN and UOS

 
mercury
post Posted: Nov 1 2012, 11:44 AM
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In Reply To: blowout preventer's post @ Sep 3 2012, 09:17 AM

Cue is for punter's only. The stock doesn't go anywhere for years. and then falls. They make money but never dish any out to investors. I wish more companies had enough strength and belief that they can pay some money to investors. It would help with the SP

Merc

 
colinm_au
post Posted: Nov 1 2012, 01:29 AM
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Has anyone noticed the lack of actual production data (not sales) reported by CUE ???

Why was the huge increase in Reserves at Maari reported by HZN not reported by CUE ???

Sales figures reported seem very understated when compared to JV partners results ...

The previous quarter results were poor because they included NO sales from Oyong and underlifting at Maari, yet these values should have shown up in this quarter ...

The Buyers keep getting hammered by a large seller and the SP is suffering ... Surely HZN's announcement of a 60% increase in reserves at Maari, CUE's main asset would have resulted in a SP increase ...


What is going on ?


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seeker4it
post Posted: Sep 3 2012, 11:42 AM
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In Reply To: Brierley's post @ Sep 3 2012, 10:19 AM

Thanks all for the feedback; much as I thought. Guess patience is required and hopefully a gusher is struck somewhere!


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