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Cue Energy reports WA359P suspension of work program commitment


Published Aug 27, 2015
Cue Energy Resources Ltd

Cue Energy Resources Ltd has been notified by the National Offshore Petroleum Titles Administrator of the approval of its application for a suspension of the Permit Year 3 work program commitment for WA-359-P. The Year 3 work commitment comprises the drilling of one exploration well which is now due by October 2016. Cue has 100% equity and is operator of WA-359-P and the adjoining WA-409-P.

Ironbark Prospect

Cue has recently completed a comprehensive regional study, including the creation of a seismic super-cube with 15,000km2 of 3D and 2D seismic data and 17 well ties. This has allowed Cue to map Triassic intra-Mungaroo sands (as encountered at the Gorgon gas field) on a regional scale and to define the Ironbark prospect, which straddles both WA-359-P and WA-409-P in moderate water depths. Ironbark is a giant, Mungaroo Formation prospect with multiple objectives. The structure is a simple NE-SW horst block with symmetric rollover, mapped as 140 - 400 km2 in area with a best technical estimate of more than 15 Trillion cubic feet (Tcf) of unrisked prospective gas resource based on internal technical assessment performed by Cue. Cue has initiated a farm-out process to find a suitable JV partner to participate in the drilling of a well targeting the Ironbark prospect.

Tags: Cue Energy




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