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- Release Date: 28/06/12 14:18
- Summary: MINE: CUE: Banambu Deep-1 Drilling Update, WA-389-P
- Price Sensitive: No
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CUE
28/06/2012 12:18
MINE
REL: 1218 HRS Cue Energy Resources Limited
MINE: CUE: Banambu Deep-1 Drilling Update, WA-389-P
Cue Energy Resources Limited (ASX Code: CUE) provides the following update on
the Banambu Deep-1 exploration well in permit WA-389-P offshore Carnarvon
Basin, Western Australia.
Progress
The operator has advised that the well reached total depth of 4696 mMD at
12:45 hrs 26th June 2012 within the Mungaroo Formation. Since the last
report the 216mm (8 ") hole was drilled through the primary and secondary
reservoir objectives and wire-line logs were obtained. The fluvial sandstone
units were intersected according to pre-drill prediction; however both
intervals are water-bearing.
Forward Plan
Operator will complete the wire-line logging programme and commence plug and
abandon operations.
Location
The Banambu Deep-1 well is located in permit WA-389-P, in the Carnarvon
Basin, Western Australia (Figure 1). Water depth at the well location is
320m.
Figure 1: Location of Banambu Deep Prospect
Participants
Following government approvals of the recent farm in transaction with BHP
Billiton the participants and their respective interests in the permit will
be:
Woodside Burrup Pty Ltd (Operator) 25%
Cue Exploration Pty Ltd 35%
BHP Billiton (Australia) Pty Ltd 40%
Explanatory note: All measurements are from the rotary table, expressed in
metres measured depth (mMD)
This will be the final release on the drilling of Banambu Deep-1.
Any queries regarding the announcement should be directed to the Company on
(03) 9670 8668 or email [email protected].
Mark Paton
Chief Executive Officer
28th June 2012
End CA:00224378 For:CUE Type:MINE Time:2012-06-28 12:18:17
