Ann: Quarterly Reports for Period Ended 30 September 2018, page-2

Really pleasing quarter....costs have come right down. Production costs for the qtr were $1.4m (annualised at $5.6m - last year annual production costs were $11.8m) so this is just money in the bank for CUE and should add $5-6m to EBITDA this year. Its looking like $15-16m EBITDA is easily possible this year which means CUE is trading at around 1.8 X  EV/EBITDA compares to 2.8 x for HZN as an example....and HZN has one of the lowest valuations in the sector. CUE can double from here and still be cheap.

I understand there is a long history with this stock but it is firing now and doing all the right things. They are also drilling, so if they get a hit then who knows where the stock will trade.