wortel gas discovery, page-3

announcement Cue Energy Resources Limited
A.B.N. 45 066 383 971
RELEASE
Wortel - Gas Discovery
The Wortel near-field exploration well is being drilled 7km west of the Oyong oil
and gas field in the Sampang PSC, offshore Indonesia.
Wortel -1 has reached a total depth of 1464 metres and wire line logging is
ongoing. Initial interpretation indicates a gross gas column of 141 metres in good
quality reservoir, above a gas water contact at 1383 metres.
The forward plan is to run a 7 inch liner and flow test the well.
Cue Comment
The discovery of gas at Wortel is encouraging given that Wortel is only 7 km west
of the Oyong oil and gas field, where a platform has been installed and a gas
pipeline is planned from the field to Grati to supply gas under an existing gas
contract.
Cue expects that further comments on the significance of the discovery will be
made once flow testing is completed.
Participants in the Sampang PSC are:
Santos (Sampang) Pty Ltd 40.5% (Operator)
Singapore Petroleum Sampang Ltd 36%
Cue Sampang Pty Ltd 13.5%
PT Petrogas Oyong Jatim* 10%
*Subject to finalization.
Location map is attached.
Any queries regarding the announcement should be directed to the Company
on (03) 9670 8668 or email [email protected].
Robert J Coppin 29 August 2006
Chief Executive Officer