- Release Date: 15/11/13 17:14
- Summary: MINE: CUE: Manaia-2/2A Progress Report # 11
- Price Sensitive: No
- Download Document 2.62KB
CUE 15/11/2013 15:14 MINE REL: 1514 HRS Cue Energy Resources Limited MINE: CUE: Manaia-2/2A Progress Report # 11 RELEASE (ASX: CUE; NZX: CUE; POMSOX: CUE; ADR/OTC: CUEYY) Manaia-2/2A Progress Report # 11 Cue Energy Resources Ltd (Cue) advises that at 0600 hours local time on 15 November 2013 the operator was setting plugs and abandoning Manaia-2/2A as planned. Since the previous report, the 8 ?" open hole wireline logging was concluded. Following abandonment of the 8 ?" section of the well, the 9 5/8" casing was perforated at three levels within the deeper portions of the Moki Formation and a wireline formation tester was then used to acquire additional fluid samples of the formation. The results from the Mangahewa Formation are in line with expectations. The upper part of the Mangahewa Formation is currently being produced by an extended reach well drilled from the Maari Field well head platform. One of the goals of this Manaia well was to acquire data throughout the Mangahewa Formation in order to appraise the potential of its' lower levels and contribute to optimization of an additional development well that is planned for this formation. This objective has been achieved. As previously advised, formation fluid samples with indications of oil and several oil stained cores were recovered from the Moki Formation during the 12 ?"x13 ?" open hole wireline logging program of Manaia-2/2A. This interval of the well was then cased before drilling continued in 8 ?" hole. Subsequently, a cased hole operation using a wireline formation tester to collect formation fluid samples from three deeper levels within the Moki Formation was executed in order to determine the extent of moveable hydrocarbons. Fluid analysis is still ongoing. 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). As the well is now being abandoned, this will be the last weekly progress report provided by Cue on 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 15 November 2013 End CA:00243871 For:CUE Type:MINE Time:2013-11-15 15:14:05
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