Yesterday's retracement of CUE was an unecessary reaction to an European economy that is 1/3 the size of Aust. and has very little economic ties outside the EU.
My opinion is that the share will hold this value with 28-29 cents as a baseline.
The ytd equates to $50million p.a. But that is Maari running at 6million barrels for the quater. It has stabilised flow rates that are double that. Also- they don't include the M2A section which has just come on line. So I estimate that Maari will double its revenue after the workover is complete in late April.
so $6.66million for the quater will double imo.
Giving a p.a. revenue of $76million with current production costs running at 22% Gross - $59million approx 9cents per share
Majority of exploration costs are free carried. Artemis - next drill Caterina - next drill and a lot of seismic.
Deveolpment costs are very manageable with the income streams available. Talk of the next capital raise is unreasonable unless you are considering new aquisitions.
In my opinion - you are still buying Artemis and Caterina for nothing at any sp sub 30cents
CUE Price at posting:
29.0¢ Sentiment: LT Buy Disclosure: Held
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