There are two factors which will effect the price of CUE today
1) A drop in markets around the world because of percieved negativety in Europe and lower growth in China (although very strong compared to Northern America and Europe)
2) End of financial year sell off of shares to crystallise capital losses against capital gains
Could this double whammy be a buying opportunity for investors who believe that there is good upside going through to financial year 2011
What to look forward to in financial year 2011
Drilling of Artemis well 1
Drilling of Caterina well 1 (Cue's timetable is for anytime between 2nd half of fy2011 and first half of fy2012)
Drilling of Barikewa well 3
Drilling of Wortel Development
I am optomistic for revenue between 20 and 25 million dollars for this quarter. As in the earlier part of this calender year. the company has not indicated any shutdowns for r/m on any of its production wells. I would hope that Maari has increased its volume of production due to extra wells coming on line over the current quarter, with the other fields in the different geographic locations, which were affected by r/m issues
CUE Price at posting:
24.5¢ Sentiment: LT Buy Disclosure: Held
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