According to junior oilers weekly (www.oilers.com.au) vol 05/02 pge14. 'The buy back for cue, including penalty, could be as much as $100million.....Jeruk will have to be very big to justify cue buying back in.'
In this Fridays energy review net:- Cue chief financial officer, Andrew Know, told EnergyRreview.net he couldn't state categorically Cue would move back into the project. (Jeruk)
"It is not something we need to decide on right away,but it's looking damn good," he said.
Cue has to make that decision when the formal plan of development for the field is presented by Santos.
Based on the above info and the fact that cue has failed to rally past .34 despite increased t/o in the last few weeks (maybe insiders are getting out?).I decided to bail this morning. Not sure what oil is worth in the ground in Sampsang but I would think that their 15% stake would have to be worth at least 3 to 4 times 100m to make it worth while. Anyone with any ideas on what 15% stake is worth to cue and how big a find to make it viable for them to buy in?
CUE Price at posting:
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