I'd say JUNE Qty has had higher than usual admin/corp costs associated with
"AUS ASSET ACQUISITION" ...Along with final Ironbark payments...Mgmt pay is around 700k pa>>> so not much of the revenue left over to go to the bottomline sadly but I'm sure thats going change next Qty onwards as so many millions of Production during the Qty was paid after JUNE>>
I think big positives for CUE is going forward >>>>going from JUNE Qty
approximately $1 million from March and April oil sales in the Mahato PSC when production was approximately 1600 bopd. Revenues from Mahato are received approximately 6 weeks after the end of the production month.....
I worked out 245Bopd av. If spread over Qty ...as stated start of JULY CUE Net 405bopd so one would think over this Qty we are going see much higher cashflows Vs Production costs..
the real Kicker I like from "Mahato"
The unperforated reservoirs in all wells are candidates for future production. Results of the 5 wells drilled to date indicate further development potential in the field, which is currently under review. The Operator has indicated the potential for further development wells to be drilled during the second half of the 2021 calendar year.???
On the 17 July 2021, the PBE-1 interfield well commenced in the PB field. The well is targeting a structure to the east of the existing PB field which, if successful, could be a standalone discovery or part of a larger PB field. The well is expected to take up to 4 weeks to drill. 3 further development wells are being planned for the PB field in the coming months...
So we are presently at or above 405bopd net to CUE but after reading the above from the Qty I think we can all agree the upside is substantial ...
NZ maari ...adding another 265bopd ---$2.3 million in revenue from a Maari lifting during the quarter was received in July and will be reported in the current quarter.....
Another thing I picked up in Qty looking again (amazing how much one can miss on first pass)
New Aus Gas assets>
effective economic date of 1 July 2020. Completion is expected in the current quarter and the economic value shown in the table($1.9millAUD) will be included to Cue as an adjustment to the completion payment.
Acquisition cost of A$8.7m upfront less $1.9mill = $6.8mill .....pretty good buying when CUE should be reaping in 1.9Mill++ for many Qtys to come and nil operation concerns as managed by CTP >>all the hardwork has been done !! pipelines sales contracts in place...
-55x Gas wells in production>>>
-7 infill wells drilled or to be drilled in the near term>>
-2x Large Exploration recoverable targets = 192Pj.!!!! (145 PJ Annual consumption for Adelaide, Brisbane and Sydney STTM hubs)
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