Ann: AGM Presentation, page-14

CUE has had a disappointing drill outcome in their Ironbark well today with no significant hydrocarbon shows and the well will be plugged and abandoned. Ten years ago MAY (or MEO as it was then known) had a significant share of that permit when the Artemis well was drilled which also turned out to be a failure. MEO eventually surrendered the permit but CUE retained it and farmed it out. Disappointing for CUE holders but a bit of a relief to MAY holders as this was a very large prospect which could have been a company maker.

ANZ