Cue reported that acquisition of the Te Whatu and Pungarehu 2D Seismic Surveys has commenced in permits PEP 51313 and PEP 51149 in the Taranaki Basin of New Zealand.

The Te Whatu survey comprises 636 km of 2D seismic data and is being acquired with the Seabird Exploration vessel M/V Aquila Explorer. The survey acquisition is expected to take approximately 14 days to record subject to weather.

The Pungarehu survey comprises 150 km of conventional 2D marine data, 29 km of conventional land data and 60 km of shallow water "transition zone" data. The survey acquisition is expected to take approximately 14 days to record subject to weather.

Participants in PEP 51313 are:

Cue Taranaki Pty Ltd 20% Todd Exploration Limited 50% (Operator) Horizon Oil (New Zealand) Limited 30% Participants in PEP 51149 are:

Cue Taranaki Pty Ltd 20% Todd Exploration Limited 61.425% (Operator) AGL Energy Limited 18.575%

Tags: Cue Energy