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- Release Date: 06/09/13 14:25
- Summary: MINE: CUE: Manaia-2 Progress Report # 1
- Price Sensitive: No
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CUE
06/09/2013 12:25
MINE
REL: 1225 HRS Cue Energy Resources Limited
MINE: CUE: Manaia-2 Progress Report # 1
Cue Energy Resources Ltd (Cue) advises that the Manaia-2 well is at a depth
of 189m MDRT at 0600 hours local time on 6 September 2013. Current
operations are preparing to drill ahead in 16" hole. Since the well spud on
1st September, 36" hole has been drilled to 189m MDRT and the 30" conductor
pipe has been run and cemented without incident.
Manaia-2 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. The
well has a planned total depth of 2,850m and drilling is expected to take
about 30 days. The undeveloped Moki and Farewell Formation reservoirs that
will be appraised by Manaia-2 have the potential to add 11 million barrels of
gross reserves to the Manaia field.
Cue will provide weekly progress reports during the drilling of Manaia-2.
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 6 September 2013
End CA:00240818 For:CUE Type:MINE Time:2013-09-06 12:25:28
