CUE cue energy resources limited

Ann: MINE: CUE: Manaia-2/2A Progress Report # 11

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    					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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