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- Release Date: 01/11/13 16:28
- Summary: MINE: CUE: Manaia-2/2A Progress Report # 9
- Price Sensitive: No
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CUE
01/11/2013 14:28
MINE
REL: 1428 HRS Cue Energy Resources Limited
MINE: CUE: Manaia-2/2A Progress Report # 9
Cue Energy Resources Ltd (Cue) advises that since the previous report, a
cement plug was placed at the bottom of Manaia-2 and the well successfully
sidetracked at 2005m MDRT and renamed Manaia-2A from that depth. The
Manaia-2A well is at a depth of 2010m MDRT at 0600 hours local time on 1
November 2013. The operator is currently preparing to drill ahead in 8 1/2"
hole to the planned total depth of 2886m MDRT.
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). The undeveloped Moki and Farewell Formation reservoirs that will
be appraised by Manaia-2/2A have the potential to add at least 11 million
barrels of gross reserves to the Manaia field.
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 1 November 2013
End CA:00243244 For:CUE Type:MINE Time:2013-11-01 14:28:49
