Yesterday's retracement of CUE was an unecessary reaction to an...

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