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- Release Date: 08/11/13 14:04
- Summary: MINE: CUE: Manaia-2/2A Progress Report # 10
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CUE
08/11/2013 12:04
MINE
REL: 1204 HRS Cue Energy Resources Limited
MINE: CUE: Manaia-2/2A Progress Report # 10
RELEASE
(ASX: CUE; NZX: CUE; POMSOX: CUE; ADR/OTC: CUEYY)
Manaia-2/2A Progress Report # 10
Cue Energy Resources Ltd (Cue) advises that the Manaia-2/2A well reached
total depth of 2891m MDRT on 4 November 2013. At 0600 hours local time on 8
November 2013 the operator was conducting an open hole wireline logging
operation. Since the previous report, an 8 " hole was drilled through the
Mangahewa Formation, the underlying Farewell Formation and terminated in the
North Cape Formation as planned.
Elevated gas readings and oil fluorescence were observed in the Mangahewa
Formation. The significance of these hydrocarbon shows will be evaluated by
the current logging programme.
Manaia-2/2A is located in PMP 38160 in the offshore Taranaki Basin, New
Zealand. The well is operated by OMV New Zealand Ltd and is being drilled
from the semi-submersible drilling rig 'Kan Tan IV'. The well is located 1.25
km north of Maui-4 (which discovered the Manaia Field) and 6 km to the
southwest of the Maari Field well head platform (map attached).
Cue will provide weekly progress reports during the drilling of Manaia-2/2A.
Participating interests in PMP 38160 are as follows:
Cue Taranaki Pty Ltd 5%
Horizon Oil International Ltd 10%
(a subsidiary of Horizon Oil Ltd)
Todd Maari Ltd 16%
OMV New Zealand Ltd 69% (Operator)
Any queries regarding the announcement should be directed to the Company on
(03) 9670 8668 or email [email protected].
David A.J. Biggs
Chief Executive Officer 8 November 2013
End CA:00243550 For:CUE Type:MINE Time:2013-11-08 12:04:01
