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- Release Date: 25/10/13 14:16
- Summary: MINE: CUE: Manaia-2 Progress Report # 8
- Price Sensitive: No
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CUE
25/10/2013 12:16
MINE
REL: 1216 HRS Cue Energy Resources Limited
MINE: CUE: Manaia-2 Progress Report # 8
Manaia-2 Progress Report # 8
Cue Energy Resources Ltd (Cue) advises that the Manaia-2 well is at a depth
of 2008m MDRT at 0600 hours local time on 25 October 2013. The operator is
currently preparing to drill ahead in 8 and a half" hole towards the planned
total depth of 2,850m MDRT. Since the previous report, the 9 5/8 " casing was
cemented and an 8 and a half" hole was drilled to 2008m MDRT before debris at
the bottom of the hole halted progress. The debris has now been cleared.
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 (map
attached). 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 25 October 2013
End CA:00242891 For:CUE Type:MINE Time:2013-10-25 12:16:09
