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- Release Date: 20/09/13 15:37
- Summary: MINE: CUE: Manaia-2 Progress Report # 3
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CUE
20/09/2013 13:37
MINE
REL: 1337 HRS Cue Energy Resources Limited
MINE: CUE: Manaia-2 Progress Report # 3
RELEASE
(ASX: CUE; NZX: CUE; POMSOX: CUE; ADR/OTC: CUEYY)
Manaia-2 Progress Report # 3
Cue Energy Resources Ltd (Cue) advises that the Manaia-2 well is at a depth
of 754m MDRT at 0600 hours local time on 20 September 2013. Current
operations are preparing to drill ahead in 12" x 13" hole. Since the previous
report the 13 3/8 " casing was run and cemented.
Manaia-2 is located in PMP 38160 in the offshore Taranaki Basin. 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 20 September 2013
End CA:00241393 For:CUE Type:MINE Time:2013-09-20 13:37:10
